I am not an expert with turbo machinery but the problem seems well setup and well converged. The reason your simulation does not run successfully is because it takes longer than the maximum allowable run time set under simulation controls. Increase the time to above the 5,000 seconds it is currently set at and your simulation should finish.
Regarding your question, you are running a steady state simulation. If you want to learn about about what happens during the transient period of operation you should run a transient simulation. This is because a steady state simulation aims to converge and show the final steady state results as quickly as possible but is not concerned with showing accurate values during the transient period. The reason a transient simulation is slower is that it converges for every time interval and will show you an accurate result for every time step.