My all time favourite flick is the 1986 film "The Fly" and I guess maybe if it was a horror themed point and click it might work, it might also be interesting to play on a sort of timer, but wouldn't necessarily end on the timer. The timed element would be finding some way around the metamorphosis even if that would contradict the science behind the film (No one said it had to be 100% faithful though) and the game would slowly alter you as per the movie and impair your ability to interact with the real world, twisting you into something further and further from saving yourself. It could be a creepy idea; but when I say the timer wouldn't "end" the game, if you failed and became the Brundlefly - maybe you could take over Virginia in a survival horror style sequence where you try to escape and survive the creature and destroy it.
I think I could see my 2nd favourite flick working as a survival horror/adventure game a bit more traditionally than The Fly; and that's Jacob's Ladder. In a way Silent Hill already borrows quite a bit from it and I suppose if they made it as desperate, lonely, and terrifying as the original film while expanding on the concept it could work as a Silent Hill or Amnesia style survival horror game.