As per my experience it will be sent on the 3rd at 10 am because it is waiting for 2 days to complete. When the wait step reaches at 10 am on Day 2, it see's that 2 day time frame has yet not completed, and at 11am on Day 2 it sees that 10 am has already passed, so it will send it on Day 3 at 10am.
This effect actually spirals if you multiple email and wait steps. So, to avoid this issue, we have started using Fixed date in the wait step instead of days and then it works perfectly fine. So, you could say the wait must end on November 19th at 10 am, then it will work.
Hope this helps.