Да, вы можете сделать это двумя способами:
1 - вы используете свой диапазон внутри функции Hyperlink.Add
'Use named range and use the offset directly in the Hyperlink.Add function
Sheets("Database").Hyperlinks.Add Anchor:=Sheets("Database").Range("Data_Start").Offset(TargetRow, 7), _
Address:=filepath1
2 - вы определяете свой диапазон как переменную (connected_path) и использовать переменную в функции Hyperlink.Add
'Use named range and a variable in the Hyperlink.Add function
Set linked_path = Sheets("Database").Range("Data_Start").Offset(TargetRow, 8)
Sheets("Database").Hyperlinks.Add Anchor:=linked_path, _
Address:=filepath2
Тестовый код
Private Sub CommandButton1_Click()
Dim TargetRow As Long
Dim filepath1 As String
Dim filepath2 As String
Dim linked_path As Variant
Dim orderid As Long
orderid = 1 'Test value for orderid
filepath1 = "G:\test\Stack Overflow\Book7.xlsx"
filepath2 = "G:\test\Stack Overflow\Book6.xlsx"
TargetRow = Sheets("Engine").Range("B3").Value + 1
Sheets("Database").Range("E3").Offset(TargetRow, 1) = orderid
Sheets("Database").Range("Data_Start").Offset(TargetRow, 1) = orderid
'.etc
'####### Hyperlink versions #######
'Data_Start is named range in Cell "C3". Cell C3 is named "Data_Start"
'Define static range (E3:E4)
Sheets("Database").Hyperlinks.Add Anchor:=Sheets("Database").Range("E3:E4").Offset(TargetRow, 8), _
Address:=filepath2
'Use named range and use the offset directly in the Hyperlink.Add function
Sheets("Database").Hyperlinks.Add Anchor:=Sheets("Database").Range("Data_Start").Offset(TargetRow, 7), _
Address:=filepath1
'Use named range and a variable in the Hyperlink.Add function
Set linked_path = Sheets("Database").Range("Data_Start").Offset(TargetRow, 8)
Sheets("Database").Hyperlinks.Add Anchor:=linked_path, _
Address:=filepath2
End Sub