Yes. I would gladly run a one shot for 2-4 friends over the course of a couple of hours. I probably wouldn't do it on a whim unless I had a handful of adventures handy that were good for that sort of thing. In my youth I could have winged it (wung it?) but now, not so much.
If someone offered to run such a game I'd be in.
I used to run a once per week lunch time game at work. I'd take an hour and a half for lunch to leave 30 minutes to grab a sandwich from the cafeteria, set up the game and tear down and an hour for playing. We had 4-5 players each time and everyone understood if you wanted time to BS and eat, you took a longer lunch. From noon to 1:00 it was game on.
I also used to run a once per week online game at RPG table online that lasted about two hours or so per session. Both games were basically episodic style adventures...I started the campaign with a fight...how the characters got there, backgrounds etc were immaterial and worked out later as needed. After the fight, a bit of RP, development or exploration, maybe a second fight, puzzle or obstacle and finish with a cliff hanger. Next week would start with "roll initiative!"
This was all with 4e. I'd be even happier doing it with 5e since it moves so much faster. Our current group plays for about 3 hours every week or so but there is a lot of chit-chat. It's probably about an hour and a half of actual gaming. We tend to fit about 3 encounters plus plenty of exploration and RP in that time.