As Mayeenul said in the comment you can use:
if($category[0]->name == 'News' || $category[0]->name == 'home-news') { ...
And to follow up on your comment about the title flashing in, this is because the jQuery is run after the browser has already rendered the content so there’s a brief moment when it’s shown before jQuery removes it. You have 2 main solutions that I can see: either set the title to display: none by default in the CSS and then let jQuery decide to show it (you could put an ELSE in your if statement for example) rather then hide it.
The other method would be to not use jQuery and instead edit the template in your child theme itself so that it’s sent to the browser correct in the first place. I’d recommend this as a much cleaner way of doing it if you’re comfortable editing the theme template, just make sure that you have a child theme set up for Avada, rather than changing the original theme itself and run the possibility of your changes being overwritten in future Avada updates.