Twitch webhook subscription gets created successfully but my server is not receiving updates

No, if it was quicker, how do you intend to handle

a) OBS/XSplit crash and the broadcaster restarting the stream, which means you get two extra webhooks for no reason
b) How do you intend to handle how Twitch handles caching on the API?

It is as low as it’s gonna get. And it has got lower than it was when Twitch first bought out webhooks. Might see a minute of improvement.

But still gotta account for Software crash which is the primary reason for the delay.

How? There is no way to make this quicker.

Because it has to account for

a) Software crash
b) API caching.

if you paid for it

it would still be 6 minutes delay on a stream down

Even then you might still need to account for crashes which means you’ll suddenly stop getting heartbeat data (in the case of OBS).

Was it a stop? Was it a crash? Did the end stream event(s) correctly fire? Did the broadcaster hit stop in order to restart to change bit rate?

Which then means you need to debounce stream restarts, which webhooks, essentially, do for you.