I'll be using this Live Event from NASA TV as an example:
https://www.youtube.com/watch?v=21X5lGlDOfg
First, list the formats for the video:
youtube-dl --list-formats https://www.youtube.com/watch\?v\=21X5lGlDOfg
[youtube] 21X5lGlDOfg: Downloading webpage
[youtube] 21X5lGlDOfg: Downloading m3u8 information
[youtube] 21X5lGlDOfg: Downloading MPD manifest
[info] Available formats for 21X5lGlDOfg:
format code extension resolution note
91 mp4 256x144 HLS 197k , avc1.42c00b, 30.0fps, mp4a.40.5@ 48k
92 mp4 426x240 HLS 338k , avc1.4d4015, 30.0fps, mp4a.40.5@ 48k
93 mp4 640x360 HLS 829k , avc1.4d401e, 30.0fps, mp4a.40.2@128k
94 mp4 854x480 HLS 1380k , avc1.4d401f, 30.0fps, mp4a.40.2@128k
300 mp4 1280x720 3806k , avc1.4d4020, 60.0fps, mp4a.40.2 (best)
Pick the format you wish to download, and fetch the HLS m3u8 URL of the video from the manifest. I'll be using 94 mp4 854x480 HLS 1380k , avc1.4d401f, 30.0fps, mp4a.40.2@128k
for this example:
youtube-dl -f 94 -g https://www.youtube.com/watch\?v\=21X5lGlDOfg
https://manifest.googlevideo.com/api/manifest/hls_playlist/expire/1592099895/ei/1y_lXuLOEsnXyQWYs4GABw/ip/81.190.155.248/id/21X5lGlDOfg.3/itag/94/source/yt_live_broadcast/requiressl/yes/ratebypass/yes/live/1/goi/160/sgoap/gir%3Dyes%3Bitag%3D140/sgovp/gir%3Dyes%3Bitag%3D135/hls_chunk_host/r5---sn-h0auphxqp5-f5fs.googlevideo.com/playlist_duration/30/manifest_duration/30/vprv/1/playlist_type/DVR/initcwndbps/8270/mh/N8/mm/44/mn/sn-h0auphxqp5-f5fs/ms/lva/mv/m/mvi/4/pl/16/dover/11/keepalive/yes/beids/9466586/mt/1592078245/disable_polymer/true/sparams/expire,ei,ip,id,itag,source,requiressl,ratebypass,live,goi,sgoap,sgovp,playlist_duration,manifest_duration,vprv,playlist_type/sig/AOq0QJ8wRgIhAM2dGSece2shUTgS73Qa3KseLqnf85ca_9u7Laz7IDfSAiEAj8KHw_9xXVS_PV3ODLlwDD-xfN6rSOcLVNBpxKgkRLI%3D/lsparams/hls_chunk_host,initcwndbps,mh,mm,mn,ms,mv,mvi,pl/lsig/AG3C_xAwRQIhAJCO6kSwn7PivqMW7sZaiYFvrultXl6Qmu9wppjCvImzAiA7vkub9JaanJPGjmB4qhLVpHJOb9fZyhMEeh1EUCd-3Q%3D%3D/playlist/index.m3u8
Note that link could be different and it contains expiration timestamp, in this case 1592099895 (about 6 hours).
Now that you have the HLS playlist, you can open this URL in VLC and save it using "Record", or write a small ffmpeg command:
ffmpeg -i \
https://manifest.googlevideo.com/api/manifest/hls_playlist/expire/1592099895/ei/1y_lXuLOEsnXyQWYs4GABw/ip/81.190.155.248/id/21X5lGlDOfg.3/itag/94/source/yt_live_broadcast/requiressl/yes/ratebypass/yes/live/1/goi/160/sgoap/gir%3Dyes%3Bitag%3D140/sgovp/gir%3Dyes%3Bitag%3D135/hls_chunk_host/r5---sn-h0auphxqp5-f5fs.googlevideo.com/playlist_duration/30/manifest_duration/30/vprv/1/playlist_type/DVR/initcwndbps/8270/mh/N8/mm/44/mn/sn-h0auphxqp5-f5fs/ms/lva/mv/m/mvi/4/pl/16/dover/11/keepalive/yes/beids/9466586/mt/1592078245/disable_polymer/true/sparams/expire,ei,ip,id,itag,source,requiressl,ratebypass,live,goi,sgoap,sgovp,playlist_duration,manifest_duration,vprv,playlist_type/sig/AOq0QJ8wRgIhAM2dGSece2shUTgS73Qa3KseLqnf85ca_9u7Laz7IDfSAiEAj8KHw_9xXVS_PV3ODLlwDD-xfN6rSOcLVNBpxKgkRLI%3D/lsparams/hls_chunk_host,initcwndbps,mh,mm,mn,ms,mv,mvi,pl/lsig/AG3C_xAwRQIhAJCO6kSwn7PivqMW7sZaiYFvrultXl6Qmu9wppjCvImzAiA7vkub9JaanJPGjmB4qhLVpHJOb9fZyhMEeh1EUCd-3Q%3D%3D/playlist/index.m3u8 \
-c copy output.ts
--external-downloader-args "-t 60"
didn't limit it to 1 minute, but pressing Ctrl+C finishes the download gracefully, and the video file is not corrupt. – Sassoon