Hi,

The Wait for condition, is kind of a wait for a specific event to happen, before the flow continues to process further.

Be careful when using this option, it can lead to flows waiting forever, which is not a good thing, you should use the "Enable timeout" to prevent a neverending flow.

If you need the flow to wait for a specific amount of time to pass, there is also the "Wait for a duration of time" which can be found in Flow logic, this option can be set to wait in regards to a specific schedule if needed, for example if you have a schedule for business days, and you want the flow to wait for 7 business days.

Use the option that best suits your needs.