Hey @KDAI
I dont think there is a better way than creating the above scheduled flow that you mentioned.
But just a suggestion for you. Dont use send an email notification V2 action for this.
The action is only limited to send 100 mails per day.
Instead use send an email V3 which can send 900 mails every 60 seconds.
In your case lets say the status does not change for the entire day and you want the flow to check every 5 minutes, then emails sent will be
1 hour = 60/5= 12 mails an hour
24 hours = 12*24=288 mails
which means you will pass the limit of the action.
Rest according to me making a scheduled flow would be the best technique. Cant think of any other technique as of now.
I hope this helps 🙂