That varies so much from dojo to dojo. You'd be best off to ask others in your dojo, especially if you haven't seen many similar tests yet in the time you've been training there. Or your sensei. And the answer probably also depends on what your personal weaknesses are.
That said, probably no harm in being overprepared...
IMO, for however much that's worth, I would personally say aim to be in good shape - don't let fitness be a limiting factor - be in good enough shape that the test feels physically easy - but IMO I would also say on the test don't go faster than you're able to do while still keeping the technical quality high (by which I mean around the top quality of what you're currently capable of). I.e., personally from the tests I've done and seen, I'd say be careful not to speed up to the point that you start to get sloppy or mess up your posture or positioning or start moving incorrectly. Better to go slowly and well. As you practice more and the movements become more natural and automatic to you and more deeply programmed into your body and mind, how fast that point actually is just naturally seems to get faster and faster over time, but IMHO the first goal is good technique.
That's just MY opinion, though, and I'm not the one testing you
. So my opinion is, to put it extremely mildly, not terribly important in the matter