Personal Hotspot not staying Connected
Solution 1:
After further experimentation I found that if I create a Bluetooth connection (pair) between iPhone/iPad it stays connected throughout screen locks etc.
Solution 2:
I had the same issue with 2 iPhones. It appeared that iOS 12 is saving power by disabling Hotspot broadcast then the signal disappears afterwards.
To fix this Go to iPhone setting -> 'Battery health' and disable the battery saving mode. You find a small link under 'Peak Performance Capability', the option once disabled disappears and cannot be enabled again.
Solution 3:
Finally a working solution!
Turn off Auto-Lock on your iPhone/iPad. If you set Auto-Lock to "Never", the Personal Hotspot will stay active. Even with screen locked for hours.
No more disconnects after 1 to 5 minutes.