Clock of Time (first time HomeBrew) PT.1

So I decided to try making some homebrew for the first time and decided to make this, note that basically everything can change and im looking for feedback on how to improve it or make it more ballenced, also if you have any name suggestions it would be appreciated since "Clock of Time" isn't a very "original" name

This is only pt1 since I've only finished the time skip abilities but im planning on adding more very soon

Clock of Time

Wondrous item, Rare (Requires attunement)

Physical:

A silver pocket watch with a golden engraved hourglass on the back of the pocket watch. The pocket watch has Roman numbers instead of regular ones

Abilities:

Time Skip(combat). you can use your reaction to skip a creature's turn and go directly to the next in the initiative, if you do so you will have to take d10 damage (= the creatures CR, the minimum being 1d10 for creature with CR:1 and below)

Time Skip(out of combat). You can skip any amount of time but take 1 damage for each second skipped ((I feel like its too much damage, but idk)). The time skip only effects plants, the time of day, and non living objects.