Raccoons, foxes, coyotes, things like that can be out in the middle of the day. That does not mean they are sick or anything like that, just that they are out in the middle of the day. Dogs can be out at any time. Nighttime is more risky because many of them are more active at night and they have longer to work on getting in the coop without interruptions. Don't count on daytime being perfect protection.
With all that said, though, your risk is much greater at night for most things. Not dogs, but most things. Many of us keep them in predator resistant runs during the day and predator proof coops at night. How predator resistant your coop or run is depends on a whole lot of things, from what materials you use to your construction techniques.
What I'd suggest instead of chicken wire is the 2" x 4" welded wire. Wire comes in different gauges. The heavier the gauge (the smaller the gauge number) the safer it is. The 2" x 4" welded wire will be a lot stronger than chicken wire (depending on gauge). It should be less expensive than hardware cloth, but that depends on the size of roll you can get and how much you need.
Some things can get through the openings, such as snakes and weasels. Weasels are not likely to be out during the day and it would take a really big snake to harm a grown full-sized chicken. They will eat eggs however, even during the day. With the hardware cloth around the bottom 4 feet, nothing should be able to reach in through the openings it eat your chickens by parts, like a raccoon will.
I built my permanent run out of the 2" x 4" welded wire, then installed chicken wire on the inside at the bottom 18". This makes it a lot harder for anything to reach through, it stops the chickens from sticking their heads through the openings to eat grass and weeds so they are not exposed, but for me the main purpose was to keep baby chicks from leaving their mother's protection when I have a broody. Another possible benefit. If you feed them treats, you can maybe just stick them through the 2" x 4" openings instead of having to open the run.
There area lot of different ways to do things. We all have different circumstances and different risk tolerances. What you are describing with the hardware cloth at the bottom and chicken wire at the top will probably work. The risk of something even trying to break in up at the chicken wire during daytime is probably really small. Just because something can happen does not mean it absolutely will. You have to balance your risks, risk tolerance, and pocket book for the solution that is for you.
Good luck!
Freedom is not the right to do what we want, but what we ought....Abraham Lincoln (Freedom carries responsibility)
The spirit of liberty is the spirit which is not too sure that it is right.....Judge Learned Hand (The more sure your are that your way is the only right way, the more likely you are wrong.)
Freedom is not the right to do what we want, but what we ought....Abraham Lincoln (Freedom carries responsibility)
The spirit of liberty is the spirit which is not too sure that it is right.....Judge Learned Hand (The more sure your are that your way is the only right way, the more likely you are wrong.)