I would HOPE that the "playability" of the field would be in the officials' hands ... assuming no lightning.
That said, how long DO you wait, on a school night? And should you require the schools to finish the next day? (A problem for a school with a 2-hour bus ride, which does happen.)
Last year, after a heavy mid-day downpour, Carolina Forest and Wando STARTED a third-round (weekend) game on a field that was virtually under water in spots.