Currently, the ‘maximum timeout for an element’ is referring to the starting time of the test. While in some scenarios it is important to measure timeout for an element to appear from step X up to step y.
For example: have a timeout from the moment the test clicked on the 'Login' button until an element appears on the page.
The above-requested feature is one that would be available in a monitoring tool. Testsigma is a functional test automation tool and the above feature is out of scope.
However, the time taken for a step to complete is already shown on the right side of the corresponding step in the Test Results page.
And for the above-discussed scenario i.e, the time taken from the click on Login button until the next page load is measured and shown as the time for the login step. Also, if the next step is checking for an element to appear, you can add the time for that step as well with the previous step time to find the total time from the click of the button to the element to appear on the page.