We investigate the proposed high-mass young stellar object (YSO) candidateCEN34, thought to be associated with the star forming region M17. Its opticalto near-infrared (550-2500 nm) spectrum reveals several photospheric absorptionfeatures, such as H{\alpha}, Ca triplet and CO bandheads but lacks any emissionlines. The spectral features in the range 8375-8770{\AA} are used to constrainan effective temperature of 5250\pm250 (early-/mid-G) and a surface gravity of2.0\pm0.3 (supergiant). The spectral energy distribution of CEN34 resembles theSED of a high-mass YSO or an evolved star. Moreover, the observed temperatureand surface gravity are identical for high-mass YSOs and evolved stars. Theradial velocity relative to LSR (V_LSR) of CEN34 as obtained from variousphotospheric lines is of the order of -60 km/s and thus distinct from the +25km/s found for several OB stars in the cluster and for the associated molecularcloud. The SED modeling yields ~ 10^{-4} M_sun of circumstellar material whichcontributes only a tiny fraction to the total visual extinction (11 mag). Inthe case of a YSO, a dynamical ejection process is proposed to explain theV_LSR difference between CEN34 and M17. Additionally, to match the temperatureand luminosity, we speculate that CEN34 had accumulated the bulk of its masswith accretion rate > 4x10^{-3} M_sun/yr in a very short time span (~ 10^3yrs), and currently undergoes a phase of gravitational contraction without anyfurther mass gain. However, all the aforementioned characteristics of CEN34 arecompatible with an evolved star of 5-7 M_sun and an age of 50-100 Myrs, mostlikely a background post-AGB star with a distance between 2.0 kpc and 4.5 kpc.We consider the latter classification as the more likely interpretation.Further discrimination between the two possible scenarios should come from themore strict confinement of CEN34's distance.