Does the new script execution feature support delayed execution? e.g if a host is offline when the script is triggered, will it run when the machine comes online, or will the process fail?

Currently it does not, the current feature requires the host to be online when submitting the request

Is it something the team is considering? I find very few device management solutions have this capability, and is really useful for pushing to laptop devices since they often go offline for periods throughout the day.

Yes this is on our roadmap coming soon