The distance an object falls, from rest, in gravity is
D = (1/2) (G) (T²)
'T' is the number seconds it falls.
In this problem,
0.92 meter = (1/2) (9.8) (T²)
Divide each side by 4.9 : 0.92 / 4.9 = T²
Take the square root of each side: √(0.92/4.9) = T
0.433 sec = T
The horizontal speed doesn't make a bit of difference in how long it takes to reach the floor. BUT ... if you want to know how far from the table the pencil lands, you can find that with the horizontal speed.
The pencil is in the air for 0.433 second. In that time, it travels (0.433s) x (1.4 m/s) = 0.606 meter
