Why? Those settings are rather hard on the battery. Much better for the equipment to start the shutdown as soon as it's obvious the power isn't returning, in my area if the power is out more than a minute or so, it's probably going to be out for much longer.
I'd recommend starting the shutdown 5 to 10 minutes after power is gone at most. That way if power does come back on relatively soon, you have enough battery left for another shutdown if the returning power wasn't stable.
Keep in mind that recharge rates are rather slow, typically about 10 to 20 times the time on battery. So if you run 20 minutes on battery, it's probably going to be several hours before the battery is full again.
SLA batteries don't like to be discharged below 50%, it reduces their usable life dramatically.
I'm betting your battery(s) are end of life.
To properly test your UPS system, you need a way to cut the power to the UPS without breaking the ground connection, so switching the power without unplugging it, a load comparable to the server, like 140W of heat or incandescent lightbulbs, and a steady power source for the server.
Leave the communication from the UPS to the server connected, turn off the power to the UPS, and observe the UPS connected dummy load and the shutdown behaviour of the server. Hopefully the server shuts down properly before the UPS dies. Obviously the server needs power from a steady source not associated with the UPS or it's switched circuit.