The problem with this will be that the label in the gallery won't automatically update on its own without it re-evaluating what Now() means. For example, you can test this yourself:
Button OnSelect():
Set(
varButtonPress,
TimeValue(Now())
)
Label Text():
TimeValue(Now()) - varButtonPress
Select the button, add that into a label, and wait a few minutes. Notice how nothing changes? That's because it'll only evaluate Now() once in that label until you tell it to do so again.
You can get the effect you want by using a timer:
Button OnSelect():
UpdateContext({TimerStart:!TimerStart})
Timer Start():
TimerStart
Label Text():
Text(Timer1.Value,"mm:ss")
Depending on how long you anticipate a user staring at it, you might need to increase the Duration() property of the timer.