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The format of the WCG – will be a blitz match on Might & Magic, lasting a maximum of 2-3 hours, with autobattles and a 1-minute turn time. We don't need such a WCG.

No, the WCG lasts 4-5 days. So, playing an Olympic-style tournament with 4 rounds can be done without any major problems.

Well, it's clear that it won't be with a 4000+500 time control. The match should fit within the
game day with a margin, and no one will let you play in the evening or night. The time for the game, if my memory serves me right, starts around 10-11:00 AM, and by 4-5:00 PM it's already winding down. That is, 6 hours is the limit here, and on average, a match should last about 4 hours. This is exactly a blitz format.