It could be interpreted in several ways, depending on context:
* A woman who is a product of her time: reflecting the societal norms, trends, and values of the era.
* A woman who embodies time: someone wise, experienced, and aware of history and its impact.
* A woman who is a symbol of time's passage: representing the fleeting nature of life and the inevitable march of time.
The specific meaning would depend on the context in which you encountered the phrase.