You want to record one hour and timelapse this into 10 seconds.
I suppose you want the timelapse video have 60 fps.
So 10 seconds with 60 fps are 10 * 60 = 600 frames.
And you want a speedup factor of 3600 seconds / 10 seconds = 360
That means you need to record 600 frames into your one hour source video. If you record more, the additional frames would be dropped, so you don't need to record more in the first place.
So 600 frames within 3600 seconds. This is 600 frames / 3600 seconds = 1/6 fps. One frame every 6 seconds.
You can enter this fps in OBS as "fractional fps value" in Settings->Video. Set Numerator to 1 and Denominator to 6.
A video recorded with these settings will play normally (1 hour) in any media player and look like a slideshow with changing the image every 6 seconds. The file itself will be rather small, since it will contain only 600 frames.
Be aware that if you press the "stop recording" button while recording with 1/6 fps, it may take a few minutes until the recording actually stops, because OBS can only stop about every 20 frames. If it needs to record another 19 frames, it takes up to 19*6 = 114 seconds or almost 2 minutes until the recording stops gracefully. If you press stop again to force stop, you might lose some of the last frames.
Also be aware the the preview of OBS also works at 1/6 fps if you enter this fps value. 1 image every 6 seconds. Setting up a source also is slideshow-like and saving changes of seource properties may take up to 6 seconds - it is synchronized to the fps.
It may be better to set up everything with 10 fps in Settings->Video and as final steop after everything is ready you change the fps to 1/6.
After recording you need a video editor that is able to change the fps of a video and at the same time reduce the length. I don't know how to do this in Adobe Premiere, but I know how to do this with ffmpeg:
ffmpeg -i "input.mkv" -filter:v "setpts=PTS/360" -an -r 60 timelapse.mkv
With the setpts filter, you "patch" the presentation timestamp (pts) of every frame to 1/360, thus playing the video 360 times faster - our speedup factor.
With the -an option you drop the (now meaningless) audio track.
with the -r 60 option you define the output fps 60
The resulting test.mkv will be 10 s long, if the original input.mkv was 3600 s long.
If you find 1/6 fps silly, record with 1 fps. The source file will be larger, but the OBS GUI will respond faster. In this case, ffmpeg will drop the additional frames, but the timelapse result will be the same.
You can optimize the quality within the OBS recording settings, because your encoder has plenty of time to encode one frame. It has 6 seconds for every frame. Proposal for OBS settings:
