Physics object settle after X?

I want physics objects to stop attempting to simulate after a few seconds to avoid situations where they attempt to simulate for too long. I don’t want to disable it entirely, I just want an object to know when to quit so to speak. If its collided with another object for example, and its been 5 seconds since that collision, it should stop simulating until the player picks it up or something else bumps into it again. In Source engine this was called wake and sleep and you could tell a physics object what wakes it and what sleeps it.