If a fielder dives and catches the ball, and is injured, and another fielder removes the ball, of course you have a catch. This rule would be much clearer if instead of saying there MUST be a voluntary release it said there cannot be an INvoluntary release - this would clarify it's intent.
In your scenario, the ball never hit the ground anyway - so there's no reason to call no catch (think of this - ball bounces off OF's glove INvoluntarily - OF has no catch - but another fielder gains possession of the ball before it hits the ground. Now, you have a catch.)
If action stops and the fielder demonstrates control, it's a catch, regardless of what he does afterward. Say he jogs in 4 steps, transfers the ball to his hand, jogs another 4 steps, and then drops the ball. Still a catch.
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