If we consider that time is contracting at the exact same rate that space is expanding, it would mean that the effects of time dilation due to the expansion of the universe are compensated for. In this scenario, there would be no net change in the flow of time, and the age of the universe would remain the same as it is currently estimated.
the age of the universe is estimated to be approximately 13.8 billion years based on various measurements, including the observations of the cosmic microwave background radiation and the measurements of the expansion rate of the universe.
However, it's important to note that our understanding of the universe is constantly evolving, and new discoveries and observations may lead to refinements in our estimates of its age in the future. Therefore, the current age of the universe may have been updated since I'm not interested in that topic as much as i used to and my answer might be a bit outdated, and it's always a good idea to consult the latest scientific research for the most accurate and up-to-date information.