Crafting in Veilguard comes in two forms: Alchemy and Enchanting.
Alchemy turns Herbs grown in Herb Gardens into Elixirs, Potions, Poisons, Venoms, and Tonics. Crafting alchemical items is relatively quick, and can be done with a few minutes of roleplay during the game so long as you have the Herbs and knowledge necessary to make the concoctions you want to. Most alchemical items have effects that are either instantaneous (such as a Healing Potion) or last for a single day (such as a Barkskin Elixir).
Enchanting turns the resources produced by Mines and Forests into magic items (armor, weapons, jewelry, etc.), which last for four Confluences before they lose their magical properties. Enchanters can either create an item from its base materials and the magical ingredients (forging a magic sword, for instance) or consume the magical ingredients to apply an enchantment to a pre-existing item. Enchanting is a time-consuming activity, and usually takes place during the Downtime between events, though every Enchanter can use the magic of Veilguard to craft one item overnight during each Confluence. Enchanting is expensive upfront compared to ritual magic or alchemy, but the fact that enchanted items last multiple events can make it well worth the cost.
Below are the pages relating to crafting: