My $0.02 worth...I will verbalize "NO" and signal safe. I do the same for a missed tag. Just "NO" nothing else verbally. That way they are thinking did s/he catch it they hear "NO", fielder thinks did I get her/him they hear "NO" and it can't be misinterped like saying tag, or catch along with the "NO"
I try to do this when possible, sometimes you are trying to run to get into position for the play that is ensueing so a long safe can't be made, some times the signal doesn't happen at all, but I will always work to get the "NO" out. Again JMO...I am most likely wrong!!