First of all, this sounds like a "Third World Play". The chances for the ball to "squirt" out of the catcher's mit and just "hang" in the air as the batter's backswing comes back around to hit it are slim and none. With that said, I will give you a Third World response just for sh!ts and giggles...
I am going to go out on a limb and say NO interference - play on. The reason being is this play should be treated under the third strike "not legally caught" rule. If the defense (catcher) misplays a strike 3 pitch and the ball is not intentionally interferred with by the batter on his way to first, then the ball remains live and play continues regardless of where the ball ends up.
This approved ruling (NCAA & OBR) was put in place to not punish the offense for a mistake made by the defense (not cleanly fielding the third strike pitch).
You asked a TWQ and I just gave you a TWA (Third World Answer). Actually, my response isn't too far off - I could probably sell it to a college coach
