SQL Server 2017

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DECLARE @t TABLE
      (
          device_owner VARCHAR(10),
          device_id VARCHAR(10),
          timestamp DATETIME,
          status BIT
      );

INSERT @t ( device_owner, device_id, timestamp, status )
SELECT *
FROM   
( 
  VALUES ('owner1', 'device_1', '2001-01-01 09:00',   0),    -- leave this
         ('owner1', 'device_1', '2001-01-01 09:05',   0),    -- exclude
         ('owner1', 'device_1', '2001-01-01 09:10',   0),    -- exclude
         ('owner1', 'device_2', '2001-01-01 09:15',   0),    -- leave this
         ('owner1', 'device_1', '2001-01-01 09:30',   1),    
         ('owner1', 'device_2', '2001-01-01 09:35',   0),    -- exclude
         ('owner1', 'device_2', '2001-01-01 09:45',   1),
         ('owner1', 'device_1', '2001-01-01 09:55',   0),    --leave this
         ('owner1', 'device_1', '2001-01-01 10:10',   0),    --exclude
         ('owner1', 'device_1', '2001-01-01 10:11',   1)    
) AS x ( device_owner, device_id, timestamp, status );

SELECT [device_owner], [device_id],MIN(timestamp) as timestamp,status
 
FROM
(
SELECT *
   --,ROW_NUMBER()OVER(PARTITION BY device_owner ORDER BY timestamp ASC) as rn
   --,ROW_NUMBER()OVER(PARTITION BY device_owner, status ORDER BY timestamp ASC) as rn_status
   ,diff = ROW_NUMBER()OVER(PARTITION BY device_owner,device_id ORDER BY timestamp ASC) 
         - ROW_NUMBER()OVER(PARTITION BY device_owner,device_id , status ORDER BY timestamp ASC) 
FROM @t
)A
--WhERE status = 0
GROUP BY [device_owner], [device_id],status , diff
ORDER BY timestamp

device_owner	device_id	timestamp	status
owner1	device_1	2001-01-01 09:00:00.000	False
owner1	device_2	2001-01-01 09:15:00.000	False
owner1	device_1	2001-01-01 09:30:00.000	True
owner1	device_2	2001-01-01 09:45:00.000	True
owner1	device_1	2001-01-01 09:55:00.000	False
owner1	device_1	2001-01-01 10:11:00.000	True