currently if i were to speedrun this game, i would need to take a break mid run if i wanted to finish, is this allowed or would i have to keep the timer running

You'd have to keep the timer running, the timing is RTA (standard rules for speedrun.com), which is single segment. Exceptions mostly occur for runs >24 hours but that doesn't apply here lol.

Personally, Dynamax are perfect breaks for drinking, eating or stretching. ^^ There is also a 1m cutscene then a 1m20 cutscene just after the 4 hours of play. I often use them for walking a bit.

@DemataPyro keyword was mostly, and also it was a bit of an exaggeration

To be fair, even if you lose time by taking a break. I recommend doing it if you need it. Health is more important.