Hollandaise sauce is notoriously difficult to freeze or prepare far in advance due to its emulsion of egg yolks and butter, which tends to separate upon thawing or prolonged holding. It's best made fresh and served immediately.
Hollandaise sauce is an emulsion, meaning it's a mixture of two liquids that don't normally combine well – in this case, melted butter and egg yolks (with lemon juice or vinegar). The lecithin in the egg yolks acts as an emulsifier, holding the butter and liquid together. Freezing disrupts this delicate emulsion. The water content in the sauce expands during freezing, causing the butter to separate and the sauce to become grainy and broken upon thawing. Similarly, holding hollandaise sauce for extended periods, even at warm temperatures, can lead to separation as the emulsion weakens over time. While some chefs might attempt to stabilize it with extra emulsifiers or techniques, the results are rarely as good as freshly made hollandaise. The texture and flavor suffer significantly.
If you absolutely must prepare hollandaise sauce slightly ahead, keep it warm in a thermos or a double boiler over very low heat (no higher than 140°F or 60°C) for a maximum of 30 minutes, whisking occasionally to maintain the emulsion. Be very careful not to overheat it, or the eggs will scramble.