CaptainEzekiel's Easy New Game + WR is good to watch when learning to speedrun. Every skip/shortcut he uses except the OOB is still possible. The OOB is done slightly different now. In the video below the OOB strat starts at 23:52. The part where he actually goes out of bounds is at 25:00. For the new OOB that you're gonna need to use i'd look at Ezekiel's New game + Easy PC cutscene skip run. It's slightly different as Jack now stays upstairs and follows you from above instead of coming down with you.

To cut even more time you're gonna have to buy the Japanese version of the game which i think is available in Microsoft Store??

You're also gonna have to play with your FPS. Mia 1 and 2 fight can be a 1 hit if your fps is very high (300+) and it is set to "variable" in-game. Also for squeezing through tight places which slows u down u can set your fps to 30 which makes the game more choppy and gets you through quicker.

There are alot of places where u have to pause and press retry for example after Mia 1 fight and before Mia 2 fight. The game slows u down after the first Mia fight and if u keep going where u have to go there'll be a quicksave from the game somewhere. When that happens u pause and retry real quick so that u get to run at a faster tempo again which might save a few seconds. I'd look thoroughly through the video's to see where those parts are.

It is still possible to get new WR in any of the RE7 runs whether it's DLC or the storyline. The NG+ Easy run is gonna be pretty hard to beat though i'll tell you that. There definitely won't be a 2 min cutoff from the WR if no new strats are being used.

There's no need for a downpatch and a timer is not required but it is encouraged. Most people use LiveSplit: https://livesplit.org/

There was a playlist which showed how to do the strats to kill every boss as fast as possible but i'm not able to find it right now. Maybe someone else will post it here below