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It is impossible for a simulated universe to be infinite.
Time may not exist in a simulated universe and therefore there is no such thing as infinite time.
If the simulated universe contains no objects in motion, but only empty space, then there would indeed be no time. Time is a measure governed by motion.
If the simulated universe contains kinetic matter of any form, there must be time. The space between and speed of objects moving toward or away from each other cannot be formulated without a measure of duration.