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There will be no need to reduce the clock for watchdog timer for increasing the deep sleep interval. To increase the deep sleep time interval you can use two Watchdog timers which are WDT0 and WDT1 through cascading. Please see the code below which tells about how to cascade the two timers. WDT1 will generate interrupt on match value.
For more information on Watchdog Timers please refer the code example "Watchdog_PSoC4_Example" in PSoC Creator.