As far as I recall, no-one had to wait as the ship went over the top in the F4, although it certainly happened with the Vixen. It would only apply to a launch off the bow cat which was axial. (The waist was angled at about 8 degrees.)
I remember Jock Gunning, the Senior P, having an engine failure after accepting the launch and then jumping out shortly thereafter. About a 13 sec flight! Two years later, another SP had an engine problem shortly after the end of the cat stroke at night. He pressed the clear-wing button and was able to fly away OK and subsequently recover.
I believe that Wiggy is now running a hotel in South Wales after a good innings with Cathay.