Adventure board game I had as a kid
Malco guided me to a list of possible answers on BoardGameGeek and I found the game there.

The game is called Dark World: Village of Fear. It is an expansion to the original Dark World, which is the inside of the castle, and can be played stand alone or connected to Dark World. The other expansion with the bridge is Dark World: Dragon's Gate. The game is originally German, a spin off of the Dark Eye (Das Schwarze Auge) role playing system.

The initiative clock/monolith I mentioned: