Hi @Anonymous ,
Every SharePoint list has a bunch of built-in columns. There are two here that will be useful in this instance;
"Created" and "Modified" which are both datetime columns.
To start, your status will have to be something other than "Approved". Let's just say before it's approved its Status is "Approval Pending".
You will also need a column to store the lapsed time in. Decide how you want to store the time lapsed - I would suggest you store minutes as a simple number and convert the result into hours/days/weeks/months etc. when needed. Add a number column called "LapsedResponseTime".
You can then create a Power Automate flow that triggers on "When an item is created or modified" for this list and add a condition step to check whether both the Status is equal to "Approved" AND LapsedResponseTime=null.
If these two conditions are true, you can then do a datediff between the Modified value and the Created value to determine the time that has lapsed betwen them. Lastly, update the item and set the "LapsedResponseTime" value to the result of the datediff.
If you are unfamiliar with Power Automate and want more details and help on the flow steps, then suggest you post questions on the Power Automate forum.
Hope this helps,
RT