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If you just want this to be a formula Duration field type, then make that change and convert it to a Duration like this :
Hours(
Max(0,
Round($HoursBeforeStartEndAdjustment
- Max(0,ToHours(ToTimeOfDay($StartDateTimeBounded) - $DayStartTime))
- Max(0,ToHours($DayEndTime - ToTimeOfDay($EndDateTimeBounded)))
, Max(0,ToHours(ToTimeOfDay($OnHoldStartDateTimeBounded) - $DayStartTime))
- Max(0,ToHours($DayEndTime - ToTimeOfDay($OnHoldStopDateTimeBounded)))),0.1)
)