We would only use "cut" if we meant we were leaving early. "Let's cut work now and go play some pool." Our usual colloquialism is "to knock off (work)". We only give a time if our knock-off is early or late. "When we knock off, let's hit the pub and play a few rounds of pool." Remember, if you want to use colloquialisms and slang in English, make sure the whole sentence matches! Putting slang in a grammatically pretty sentence looks robotic and false.