The server sides are typically set up with some flexibility to account for the latency and avoid this UX issue. They will have a window to accept the previous/

The server sides are typically set up with some flexibility to account for the latency and avoid this UX issue. They will have a window to accept the previous/next code even after the new becomes active. To avoid replays, though, this should be reset once a code is accepted: only subsequent codes should be accepted afterwards. So when code N is the "correct" code, any of N-1, N, or N+1 will be accepted. But if N is entered, only N+1 and onwards should be accepted for later attempts.