We used to have a club championship over Labor Day. There was a championship flight (no hdcp limit) and other flights sorted by hdcp.
It was stroke play, cut to low 8 after 3 rounds played Saturday, Sunday, and Monday morning.
Low 8 and ties play a fourth medal round on Monday afternoon.
There was no hdcp limit. Low score for the 4 rounds was club champion. Sudden death playoff if required for club in championship.
Then we went through a couple of revisions over several years. Bounced around a bit to play over multiple weekends.
Today, it is still stroke play for 4 rounds over Labor Day weekend, except the first round is played Friday afternoon, then Saturday, Sunday, and finally Monday morning. A small portion of the field is 'cut' after two, and then three rounds.
Many (not all) of the contenders play in 'current' higher stake gamble on Friday afternoon game So Friday afternoon play is no big deal to most. Also, now there is a hdcp limit of 5 or 6 or 7.