You can automatically generate wave times for your race with the Wave Times field.
Toggle these options to yes if you'd like wave times to be required and/or if you'd like to charge an additional fee.
Select the start and end time for your waves, then select the time between waves.
You can set a limit (capacity) for each wave, then opt to hide waves when they are full.
Once the settings are to your preference, click generate waves.
That will formate all the wave times for you in separate options.