You can actually access the global $_POST variable for your field value , but i guess you can do it in a cleaner way by using the save_post action to update your post's title, eg:
add_action('save_post', 'change_title');
function change_title($post_id) {
$time = get_field('time',$post_id);
$post_title = 'Topic created at '. $time;
// unhook this function so it doesn't loop infinitely
remove_action('save_post', 'change_title');
// update the post, which calls save_post again
wp_update_post(array('ID' => $post_id, 'post_title' => $post_title));
// re-hook this function
add_action('save_post', 'change_title');
}
assuming that your ACF fieldname is "time".
Edit: Updated the answer as per Mark Chitty's answer.