In the Remastered version of Homeworld 1 and 2 the hyperspace jump is shortened giving a quicker exit than before.
Hyperspace does not act independently from normal space. Gravitational fields for example exert a powerful influence on ships traveling through hyperspace and can pull them from hyperspace, bringing them back into normal space. This can be potentially fatal for the ship and its crew, especially if the gravitational field in question is that of a large star or black hole.
There is also evidence that some lifeforms exist within hyperspace without any kind of life support. The Beast for instance was believed to have attached itself to the Naggarok while it was traveling through hyperspace. This suggests that the Beast may be native to hyperspace and if that is true, it is possible that other lifeforms are as well.
According to the information presented in the Homeworld manual, Hyperspace appears to be a temporary effect generated by the hyperspace module. Specifically, this is called Quantum Wavefront effect that envelopes a vessel (In the games, this appears as a blue, yellow, or green 'windows' enveloping a vessel) and projects it through space in a transient state apparently unaffected by solid matter. The field itself is disrupted by a strong gravitational presence, either from that of a planet or gravity-generating body or from devices and space objects that simulate such a field. In apparently every case of a hyperdrive known to the Hiigarans, Taiidani, and others, the drive is ended in a 'crude' manner by simply turning off power to the module when an estimated time has elapsed, and then the wave ends on its own. A fail-safe exists when a gravity well or other anomaly is detected, which also terminates power to the module and brings a ship out of hyperspace.
Though the Homeworld manual (written from a pre-Homeworld perspective) alludes that understanding of Hyperspace is crude and primitive, it is rather surprising to see the well-established and older Bentusi using essentially the same method of hyperspace travel but with a different colour of the Quantum Wavefront effect. This, contrasted to the Progenitor appearances of something other than 'hyperspace', specifically in the form of Balcora Gate and the appearance of the Planet Killers in the last mission. However, Sajuuk appears to use a Quantum Wavefront effect as well, also coloured yellow.
Given this detailed description of Hyperspace, it is difficult to reconcile the Beast as described by Cataclysm. As Hyperspace appears to be a temporary state of existence, rather than an entirely different universe, it is not possible for life-forms or anything else to 'exist in hyperspace' while not in-transit. It could be possible that the Naggarok was using some other Faster Than Light transit system, or that the Beast's creation was unrelated to hyperspace altogether and the Clee-San's surviving science teams were mistaken in their analysis of the Naggarok disaster.