Yes, time is the basis of our shared "reality."
Time is the aspect of creation also known as "persistence." A creation initially has zero persistence. When allowed (as in God's day of rest), a creation effectively turns in the continuum, gaining potentially infinite duration. When the truth of something is spotted, the creation resumes its "moment of creation" and rotates back toward zero persistence and you are free of it.
Beyond reality is creation. That is our natural realm, leaving ego and the human body behind.