The delay will have gone, as has any opportunity for auto exposure and auto white balance to do any adaptation to the scene, so expect incorrectly exposed and coloured images.
In addition to 6by9 comment, a timeout of about 1000 (1s) is usually enough for all the automated algorithms to settle down, depending on light that can be reduced further, but trail and error will find the best number.
It never finishes as such. The algorithm recomputes on every frame (approx every third for AWB) to produce a new set of numbers for subsequent frames. You need a pretty tightly controlled scene to end up with zero variation between frames.
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