Will this run every 4 seconds from the time the stored procedure is called in the program?
The stored procedure will execute indefinitely, but every 4 seconds it will deliver a new resultset. Compile it in your environment and try it out.
Also the results from the select should go into xls file, may be appended every 4 seconds... Is this possible?
If you want to write the resultset to an Excel file then you probably would want to write the resultset to a table every 4 seconds, and then have a separate process pull the data in that table periodically, but far less than every 4 seconds.
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