Minimum time elapsed?

[letemplay]

We know the rule tells us with .3 or less a player may only tap for a try and that if such a player in this situation catches or holds the ball, those .3 has elapsed and play is over. Would the same hold true for a player catching a ball and trying to call a time out at the same time? In other words, is there some standard most of you use in this play: With 2 seconds left in game, A1 has a spot throw in from B's endline, and is attempting to make a pass at least into A's frontcourt and call an immediate time out. A2 receives the pass just beyond midcourt and immediately (along with A HC and most players) is yelling for the TO. The clock shows 1.2 left now, but HC is arguing much less time should have come off. If .3 is too short to control the ball for a try, would it stand to reason that at least .4 would have to elapse at a bare minimum in order for a player to control and a team to call a TO? Do we generally just leave these cases up to timer? He cuts it on when it's touched and off when he hears the whistle and we live by whatever is showing? Wonder if this happens enough if we would have a standard runoff of say .5 in these sitches?