HELP! How do I Create a timelapse In photoshop?

You can also do it in Photoshop. Here are some tutorials
https://improvephotography.com/41051/creating-amazing-time-lapse-videos-photoshop/ 

https://www.youtube.com/watch?v=tEukmd-mWlA 

..... You can find lots more just by googling.
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And here is one I did, also in Photoshop, just a very basic one for Behance, but you can make it as involved as you need to:

https://mir-s3-cdn-cf.behance.net/project_modules/max_1200/43ddeb80920845.5cf3e4ab5a2fe.gif 

You mean like speed art? Best ways I can think of is to record it (in real time) using a program like Camtasia, then use a nonlinear editor (or NLE) like Premiere or Camtasia itself to change the speed. (I'd still recommend Premiere and/or After Effects because of their power of editing and adding motion graphics.)

Part of the challenge here is if you plan on doing a video, you'll maybe want to score the video with a musical track of some sort, whether it be someone else's work on your own*. If you want to do such a thing, you'll have to use a DAW (digital audio workstation) app that has video support so you can score the video as it plays. I use Reaper, but there's a few others with video support.

I plan on doing such a thing (but not with painting, rather creative composition): Capture my workflow and then set it to my own musical soundtrack.  😄  (I'm a composer/musician.)

*Be absolutely sure you do not use material that is copyrighted without permission.