You can refer to this research article discussing the theoretical calculations and methodological approach that could be used for MATLAB simulations. Please refer to the third section of the following article:
You can use the code in the following resource, under the “Functions” tab, to simulate continuous-time Markov chains:
Also, the same problem has been extensively discussed in the community, and there have been numerous proposed workarounds. You may go through the following discussion comments where you can find valuable insights and potential solution:
I hope this helps.
