I would like to point out an approach I found out in one of my own solutions, which I find much more flexible and have started using to a great extent.
Because waiting for a time period forces you to wait that period of time ONLY. Which can be ok, if that's the usecase. But you lock yourself into "The world is frozen in this state for that amount of time, and only after that time will I re-evaluate".
However, I find that more often than not, what I'm actually trying to do is wait for an amount of time OR for some conditions to be true. Let's say "if the record gets closed in the meantime, there's no reason for the flow to wait any longer".
So instead I've begun using the "Wait for condition" action, and then enabling timeout on that.
That allows me the flexibility of reacting to specific conditions. And if those conditions don't happen, then I'm waiting for that set amount of time. So that way I wait for both things at the same time, allowing me to end the flow before the timeout.
The timeout feature on Wait for condition even allows you to take schedules into consideration, so you can wait workdays instead of calendar days.
I've found that approach hugely beneficial.
