I'am almost 45 years old, from lot of threads I assume an high percent of users have played the BG games when they were released, or slightly, later thus I'm pretty sure the Larian demographic is not that stereotyped as depicted from the "Larian demographic" comment.
Said that, time management is an issue in a lot of games. In BG3 we have the standard 2 short rests and 1 long rest per die and it's up to the player to decide on their own if they want to exploit it or not (just like the use of barrels, the use of height and so on) if you decide to abuse it because you see the opportunity that is your issue not an issue of the game.
On topic, the lack of a night time deprives games of a ton of narrative oportunities, this is a medieval set that would imply that in the night the gates to cities would be closed, that taverns would be, obviously in function of how late in the night, more crowed than the day, that shops would be close while fencers could be open, usually night is the time when some kind of criminals are out to do their business.
Nevertheless I admit that it is difficult, and probably resource consuming, to set something like that. Daggerfall had quests that could be done only by night, after the sun set you city gates were closed, but if you got infected with vampirism you have to move in the dark, very fun, but the graphic it used, even if it required powerful computers, were less resource consuming than the one we are used to.
Indeed in almost all the games I play there's a complete lack of night or day time, some games alternate pieces of narrative are in the day, other are in the night.
In my opinion the problem is the conflict between the need and want of players to finish all quest, and the fact that a realistic time arrow would completely break the suspension of skepticism because it would became obvious the lack of time limits to solve the quests.
