Welcome to the Make community!
Yes, that is possible. You’ll need a minimum of two modules:
Here is the original sheet
1. Filter rows that need a status change
This saves you operations on rows that doesn’t need changing
As you can see, I am using the DATETIME Operators “Earlier than” and “Later than or equal to”
2. Update status cell value based on date
After running, status cell is populated correctly
Give it a go and let us know if you have any issues!