1) there is no min max because there is no levelling
2) time only advances when you sleep
While there is no hard time constraint, your hunger depletes constantly and there is limited food as neither item containers or enemies respawn. Theoretically this means you cannot play at too slow a pace. However since nothing respawns, there is no point to linger at any area longer than necessary. In the end play the demo or the first game to find out if you will like the full game.