I tried 5-MeO-DMT a long time ago. Talking almost 20 years ago. The main thing I remember was a profound slowing down of time perception. Me and the other guy on it practically attacked our babysitter wanting to know how long it would take to wear off because it seemed like hours and hours had passed by. And I'll never forget what he replied, "relax it's only been 5 minutes"
Being able to isolate the part of the experience that deals with time sounds like it could create some interesting/horrific implications for society.
You could give a criminal multi-century prison sentences for crimes and they still have their life left at the end of it all. You could contract the boring parts of your life and extend the interesting ones. Forget "living to work", you could do a full day's work in the blink of an eye and have a decade-long evening to enjoy life.