Imo a day/night cycle that tracks 24 hour periods is needed. If you don't need to manage your sleep/exhaustion then you're not an adventuring party. Plus, a limited number of hours in the day adds a sense of false urgency and a plethora of additional story thread possibilities. Then you just make short rests take a legitimate 1 hour block of time and allow the party to throw them away at their leisure.
This should be the solution, Exhaustion and sleep is core in d&d and every single game has it (BG 1,2 , Neverwinter , Pathfinder) it will be so weird if BG3 just ignored this.
I also feel the teleporting outside to the camp and back in without failure or real time spend (i even long rested in the middle of a scene or after a quick save half second before a encounter started), to be weird and out of place without in game justification. I mean you get that in BG2 TOB when you get the pocket plane at lvl 18+ . Its a free Mordenkainens magnificent mansion at lvl 1. (but we also get free teleportation circles so xD)