As nouns, are there any specifics situations for the use of each one? Or do they have the same meaning in all cases?

The wait is over.

The waiting is over.


Your examples express equivalent thoughts and both are used, I believe, with equal frequency. Wait as a noun has the same meaning as waiting, gerund.

Of course, not all words as noun and gerund are exactly equivalent, just to confuse things.

The run is over.

Might mean a string of wins is broken

The running is over.

Might mean a race is finished

The ticking is annoying.

Could be a noisy clock or uncomfortable pillow cover

The tick is annoying.

Could be that same loud clock or a blood-sucking arachnid

Sorry about that digression.

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