As black ran out of time, we see if there is a legal sequence of moves that leads to white checkmating black. As there is one such sequence, white can win and therefore wins on time.
The mating position might look like this: White: Kh3, Ng3 Black: Kh1, Bg1
FIDE Laws of Chess, Article 9.6 "The game is drawn when a position is reached from which a checkmate cannot occur by any possible series of legal moves". It is 100% draw in practice, but in theory white can mate black with a legal move sequence.