Hi, i lag in my runs a lot. Most of the time entities just stop and chunks dont load. Idk how to fix it, ive tried allocating more or less ram, ive updated my java runtimes, ive even tried factory resetting my computer. Im pretty sure it has something to do with my wifi which is weird because theres a dip in my wifi when i experience these lag spikes. Could also be my computer but that's besides my point.

Anyways, Can i pause my game and wait for the lag to end in a run?

Sure.

yea, there is a diferentiation betwen RTA and IGT in minecraft leaderboards where time is stopped while the game is paused, you can use that as much as you need

tho, if you think it has to do with your wifi, you can try just disconnecting it lol; you dont need wifi in your PC for speedrunning minecraft offline