Yes, it is related, although you want to be careful. Strictly, $s$ is a function of time. This gives you the possibility to vary $\frac{ds}{dt}$ based on the gap $\delta_s$ between the ground and first excited states of $H_s$, and therefore control the accuracy of your adiabatic approximation. It's up to you how you pick it, but IIRC, it's nice to have
$$
\frac{ds}{dt}\sim\frac{1}{\delta_s}.
$$
So, yes, $s$ is function of time. However, you can no longer think of the evolution as $e^{-iHt}$ because that formula only applies if $H$ is independent of time, which $H_s$ now isn't. Instead, you have to go back to the Schrödinger equation
$$
\frac{d|\psi\rangle}{dt}=-iH_s|\psi\rangle
$$
and solve it. A reasonable approximation can be arrived at by thinking that $H_s$ is approximately constant over a set of intervals $\delta t_i$ so that you get a product
$$
\approx e^{-iH_{s_N}\delta t_N}\ldots e^{-iH_{s_2}\delta t_2} e^{-iH_{s_1}\delta t_1}.
$$