You purchased a device designated as a "camera"
Not a device designated a "video camera"
Thank your firends in the EU. For import and tarrif purposes, they have created a standard.
Cameras can record videos up to 29min 59sec.
Video or camcorder devices longer. These devices are subject to higher tax
Although this limitation only applies to products sold in the EU, ALL camera manufacturers impose this limit on their products.
And to add a little additional to Rick's answer (and he is absolutely correct):
The camera manufacturers really don't design DSLR and mirrorless bodies for continuous camcorder service. Far more heat is generated with constant operation of the sensor, A/D conversion, storage, and overall control functions of the device in video service than is found with still image use. Dedicated camcorders have cooling systems, usually forced air, to deal with this while what are primarily still cameras are biased more towards weather resistance than heat rejection. Canon's EOS 1DX family use a heat pipe design to manage where heat builds up which is far more robust than their pro-sumer and consumer bodies but in high ambient temperature operation a 1DX can also go into protect mode in video service. Long before over-temp limit modes are hit, increased aging of components is occurring in these bodies which is a concern if you plan to keep your camera for a long period of time while using it heavily for video service.
Or the short answer is, for extensive video operation you are better off with one of Canon's dedicated camcorders or if you need extensive lens versatility the EOS cinema line. The DSLR and mirrorless bodies are fine for occasional video use that preferably doesn't come near the "VAT tax" record time limit but they are primarily still image product with varying levels of video capability. I use a XF-400 for sports video and it does a great job for as many hours as I want to shoot even in the summer but it also has a fan that I leave set to continuous duty to control heat buildup and I am careful that it doesn't see even the light rain exposure that my 1DX series cameras and L series glass often sees. The XF-400 also has the ability to capture stills but certainly not at the level of my 1DX series cameras. Each is very good at its primary task.
The M50 has a 29 min limit on video capture. How can I extend (avoid, bypass, hack) that? I am using the M50 for video streaming, manual focus to clean up the hdmi output, and don't want to pay for an app just to extend the video recording.
Unfortunately, all of the previous replies are correct. If you find some software that claims to work around then limitation, RUN, and do not look back.