If the refresh rate is 5 seconds, and the network response time is 500ms, than eliminating the 500ms response time means we are 10% less likely to miss the train. On average, the time for the text to appear on the screen decreases by 500ms.
All this assumes the refreshes happening on a static schedule. If the software can trigger the refresh, then it’s a lot simpler. The 500ms improvement in latency would apply equally to every engagement with the translate feature.
If you want to see what I mean by the ghosting of user interface elements being more perceptible, try using KOReader. The ghosting after using a menu can be quite noticable (at least on Kobo devices, which are based on the same technology).
And the fact that the screens are slow should be motivation to make the rest of the system as responsive as possible. A good software engineer will work around bottlenecks, not shrug their shoulders and introduce new ones.