Time does not exist ontologically. The universe exist. Love, hope and faith exist ontologically only in the sense that God Himself exists and these things are in some way part of who He is but in the normal sense of the words, they too only exist as concepts in a thinking mind and do not have their own ontological existence.
I am going to stay away from the word ontological because I think it is misleading. I prefer to use the word “thing” just now because I have limited understanding.
I had occasion to study the subject of love while working through the stages of grief when my wife died last year. I was surprised to learn that love is not an emotion. I had always assumed it was, or, something like an emotion.
But while emotions come and go and are dependent on our immediate circumstances, love doesn’t act that way. Emotions are not actors, but reactors. They respond to stimuli and can change at a moment’s notice. Love does not behave in this way.
1 Cor 13 tells us that love (and faith and hope) abides. This means it, a thing, takes up residence. It also tells us that love is kind and minds not the things of itself; in other words, it is purposeful. It rejoices. It can be provoked, but not easily. It bears, believes, hopes, and endures. Consider the love that shows up for a mother when a baby is born. Unless one of them kills that love, it endures; it abides. It takes up residence with them.
None of this is surprising given that God is love. Does He spill a thing called love out of heaven upon us, fit for special purposes, as gifts?
I found that the answer to conquering my grief was to admit that, just as love had come and abided for 41 years, it had gone because the reason for it to abide ceased to exist. What was left were emotions without the object of affection. That object was not my wife, as precious as she was, it was the beauty of God-given love that was entrusted to us for that duration and had returned to its source.
So I will respectfully disagree with you that love, faith and hope exist only as concepts in a thinking mind. I am convinced they are more than that. How much more, I am not sure.