Great suggestion, i will second that. It would be extremely helpful while making game tutorials.
You know that the "Connect" Tab has Basic Video Editing Support, to Trim / Splice / Paste / Append / etc.
This said, I'm not sure how useful a "Pause" Function really is... as it's better to have more footage that can be produced / edited down, than less footage and be missing something you MIGHT need later on.
Video Production skills are quite useful, albeit sure can be time consuming... but they will substantially improve the overall viewability and quality of the end product.
If Storage Space is an issue, hence wanting smaller files; eh., I'd argue you probably should get a Dedicated Storage Drive for Video Output.
I'd definitely recommend a 4TB "Scratch" Drive., plus a BluRay Writer; to perform regular Archives of the original Recordings (which will be Higher Quality than later pulling the VODs from YouTube / Twitch / Mixer / etc.)