Let's define the interaction Hamiltonian as
$$\hat{H}(t) = \hat{H}_{\text{S}}+\hat{V}_{\text{S}}(t)\tag{1}$$
Where $\hat{V}_{\text{S}}\in \mathcal{L}(\mathcal{H})$ represents time-dependent perturbation to Schrödinger picture Hamiltonian $\hat{H}_{\text{S}}\in \mathcal{L}(\mathcal{H})$. Furthermore, $|\psi(t)\rangle_{\text{I}} = {\text{e}}^{\frac{i}{\hbar}\hat{H}_{\text{S}}t}|\psi(t)\rangle_{\text{S}}$ and $\hat{V}_{\text{I}}(t) = \mathrm {e}^{\frac{i}{\hbar}\hat{H}_{\text{S}}t}\hat{V}_{\text{S}}(t)\mathrm{e}^{-\frac{i}{\hbar}\hat{H}_{{\text{S}}}t}.$ From which we conclude that
$$\begin{align}i\hbar\frac{\partial |\psi(t)\rangle_{\text{S}}}{\partial t} = \hat{H}(t)|\psi(t)\rangle_{\text{S}}&\iff i\hbar \frac{\partial(e^{-\frac{i}{\hbar}\hat{H}_{\text{S}}t}|\psi(t)\rangle_{\text{I}})}{\partial t} = \hat{H}_{\text{S}}|\psi(t)\rangle_{\text{S}} + \hat{V}_{\text{S}}(t)|\psi(t)\rangle_{\text{S}} \\&\iff \hat{H}_{\text{S}}|\psi(t)\rangle_{\text{S}} + e^{-\frac{i}{\hbar}\hat{H}_{\text{S}}t}\frac{\partial |\psi(t)\rangle_{I}}{\partial t} = \hat{H}_{\text{S}}|\psi(t)\rangle_{\text{S}}+\hat{V}_{\text{S}}(t)|\psi(t)\rangle_{\text{S}}\\ &\iff i\hbar e^{-\frac{i}{\hbar}\hat{H}_{\text{S}}t}\frac{\partial |\psi(t)\rangle_{I}}{\partial t} = \hat{V}_S(t)|\psi(t)\rangle_{\text{S}} \\&\iff i\hbar\frac{\partial|\psi(t)\rangle_{I}}{\partial t} = e^{\frac{i}{\hbar}\hat{H}_{\text{S}}t}\hat{V}_{\text{S}}(t)e^{-\frac{i}{\hbar}\hat{H}_{\text{S}}t}|\psi(t)\rangle_{I}\\&\iff i\hbar\frac{\partial |\psi(t)\rangle_{I}}{\partial t} = \hat{V}_{\text{I}}(t)|\psi(t)\rangle_{\text{I}}.\end{align}\tag{2}$$
Dyson operator is then defined as $|\psi(t)\rangle_{I} = U_{I}(t, t_0)|\psi(t_0)\rangle_{I}$, where
$$\begin{align}U_{I}(t, t_0) &= 1-\frac{i}{\hbar}\int^{t}_{t_0}\hat{V}_{I}(t_1)dt_1+\biggr(\frac{i}{\hbar}\biggr)^2\int^{t}_{t_0}\int^{t_1}_{t_0}\hat{V}_{I}(t_1)\hat{V}_{I}(t_2)dt_{1}dt_{2}+\cdots \\ &= \mathcal{T}\biggr\{\exp\biggr(-\frac{i}{\hbar}\int^{t}_{t_0}\hat{V}_{I}(\tau)d\tau\biggr)\biggr\}.\end{align}\tag{3}$$
It seems that $S$-matrix of scattering process is $$\hat{S} = \lim_{t\rightarrow \infty, t_0\rightarrow -\infty}U_{I}(t, t_0)\tag{4}$$ However, what is the physical significance of taking the limit to very distant past and future?