This is a PPWIZARD command line switch.
By default ppwizard outputs the elapsed time (in format "*") at the start of any debug line it outputs. This option allows you to select any format supported by the standard rexx time() function or turn off time generation altogether.
The format parameter should not be supplied to turn off time output. Pass "*" for the standard elapsed time (truncated to 3 decimals) or any single character supported by the rexx time() function ('E' for elapsed or 'L' for long are the most likely choices).
Note that ppwizard is optimised for fast execution with debug turned off, and in fact may perform extra work (sometimes very time consuming) when debug is on (on the assumption that execution time is not an issue). For these reasons you should use the timings you obtain as a guide only.