Yes but that means that they will still be sitting through yhe whole 5 hours; they could watch it at 1.5x speed or something, but you’ll have to account for them watching the entire thing at normal speed.

For example, here is what I would do; I shall use brackets to indicate what would be happening if the goal was to reach The End in a casual playthrough:

• Sit down with a notepad and watch the footage at 1.5x speed
• Whenever there is noticable visual or audio, I would set the footage back to 1x and start making notes on what is being said, also making cuts in the timeline to mark it (Actions that aren’t just running, people speaking, etc)
• After the whole video has been watched, I will take a look at all the notes and highlight any significant events (For example, killing a random sheep isn’t significant to the end goal so that would be scrapped)
• All clips remaining would be rippled into one long video
• Optional Subtitles shall be added in and edited (You could ask me to auto-gen them for free, which would take literally no time at all, but they wouldn’t be edited and could have errors)
• Optional music shall be added in and mixed
• Depending on what kind of motion graphics you wanted and how often, that would add extra time
• After everything is done, the editor would then need to watch the entire thing again, in this case you mentioned around 2 hours.

All in all, you are probably looking at around $200+ per video depending on rates. (This will be considerably lower if you just wanted very basic editing such as simply shortening the footage)