Hi @DHirsh-W2W
Chatted with @vescamilla about this and he tested it to see exactly what would happen. Apparently, a recording will continue, even with all participants in the Waiting Room. The recording for that period when everyone is in the Waiting Room or reconnecting will just display the name of the last participant to leave the meeting. As everyone rejoins, the recording will capture their video and audio just as it did before.
Hope that helps and let me know if you have any further questions. Otherwise, make sure to mark the solution as accepted if this information is what you needed.