No, unless you have annotation enabled the Click action executes as fast as possible. It really depends on how long it takes the browser to return when Test Studio triggers each command (note a step can trigger multiple commands before the test can move on the next one in the list). If the browser/application is responsive the test should not executes without delay.
Or do you mean a Typing action? It can be configured from the step properties KeyHoldTime
. Please give those a go if this is the case.