If you have multiplayer like this, you absolutely do not have a hard requirement on frame latency. You don't control network latency spikes. Latency tolerance

If you have multiplayer like this, you absolutely do not have a hard requirement on frame latency. You don't control network latency spikes. Latency tolerance is a hard requirement, or you will have constant problems and likely be unplayable. Or custom networking and hardware stacks, which is deep into esoteric territory.