Pausing a sequence with existing subscribers will pause all actions. When the sequence is unpaused, the actions will resume. So if you pause a sequence for a day, you'll have an extra day of delay in your sequence.
If you pause a sequence for two months then everything will be delayed for two months.
Please be careful. If your sequence is paused for a long time, you may consider removing all subscribers before unpausing it.
Pausing a date sequence, whether it's a specific date or an account date, will skip any step that should have happened on the date the sequence is paused. When resumed, any scheduled steps will then happen.