Penn State has been getting dominated in time of possession almost every season since 2016, and has won a ton of games in spite of it. The big exception to time of possession was 2020, where we noteworthily did not win a ton of games. It's a stat that's practically meaningless in terms of its positive impact on actually winning the game. Number of plays is a little more relevant, but yards per play and the ratio of big plays to plays run is more important, by a significant margin. More plays mean more chances to score, sure, but more plays also means more chances to make a mistake (which Wisconsin did a lot of).
Most defenses would happily sign up for a situation where the offense needs to plod their way down the field three yards at a time, because it means that the offense isn't able to effectively create space, and eventually you need to create space to score.