Best way to achieve delay play (chase play)

Seeking advice on what is the best way to achieve a delay play (chase play) using Blackmagic products.
I am planning to have an ATEM 1 M/E in the main production feeding to a ATEM TVS on another floor. However the secondary room needs to have control over the when to play this feed, usually a 5 minute buffer, from the main production. Originally I was hoping that Hyperdeck can do a chase play but staff has confirmed that's not possible.
I am wondering how delay play (while the feed is still being recorded). Can I use:
1) ATEM TVS's h.264 file
2) a H.264 Pro Recorder
3) Ultra Studio SDI
in conjunction with the free Black Magic Media Express software to achieve this? Or must I have something like Telestream Wirecast and an additional computer to do this?
We're trying to keep costs to a minimum.
I am planning to have an ATEM 1 M/E in the main production feeding to a ATEM TVS on another floor. However the secondary room needs to have control over the when to play this feed, usually a 5 minute buffer, from the main production. Originally I was hoping that Hyperdeck can do a chase play but staff has confirmed that's not possible.
I am wondering how delay play (while the feed is still being recorded). Can I use:
1) ATEM TVS's h.264 file
2) a H.264 Pro Recorder
3) Ultra Studio SDI
in conjunction with the free Black Magic Media Express software to achieve this? Or must I have something like Telestream Wirecast and an additional computer to do this?
We're trying to keep costs to a minimum.