The Fat, NO & CJ with their AR's, TMOs, multi-camera angles, & citing officers can wait longer if they wish (and it wouldn't be the 1st time the elite guys allowed things different than the rest of the us ....crooked feeds, collapsing rucks etc ....)
But outside camera'd rugby a much faster reaction time is prudent IMO.
PS.... I can see problems if ' immediately' in law = 5s
I don't think all of the "add-ons" available in CJ's or NO's games have anything to do with how they ref this particular phase.
IMO, they are doing as per Marauder's comment that I highlighted in my previous post.
"If he can immediately place it or release it such that it can either be retrieved by the SH or played with the feet in the maul then ......".
I think that is the best way to referee it. Ball trapped/wrapped up/not moving etc = not immediately available. Ball immediately moving back being made available = play on.