Actually I believe that no longer applies in bannerlord - they did test the feature but it was removed after community backlash (which I did take part in). So (correct me if im wrong) but the bannerlord block delay is consistent and is about 0.5 seconds.
No, this is the same conflation the developers keep making when addressing this and it's wrong. Nobody is complaining about the lag compensation delay that Warband had and Bannerlord has similarly. The issue is that each block must physically be moved into its relevant position, from where it started, and that if you were in the middle of something or attacking on the 'wrong' side, blocking therefore takes longer. This is a different system from Warband and results in the inconsistent, slow feeling to blocking (and other parts of combat). This is the "block delay" people talk about.