An improvement of the code proposed by the user Aacini, It has resolution of hundredths of a second and does not fail when the time reaches 23:59:59,99:
for /f "tokens=1,2,3,4 delims=:," %%A in ("%TIME%") do set /a HH=%%A, MM=1%%B-100, SS=1%%C-100, CC=1%%D-100, TBASE=((HH*60+MM)*60+SS)*100+CC
:: Example delay 1 seg.
set /a TFIN=%TBASE%+100
:ESPERAR
for /f "tokens=1,2,3,4 delims=:," %%A in ("%TIME%") do set /a HH=%%A, MM=1%%B-100, SS=1%%C-100, CC=1%%D-100, TACTUAL=((HH*60+MM)*60+SS)*100+CC
if %TACTUAL% lss %TBASE% set /a TACTUAL=%TBASE%+%TACTUAL%
if %TACTUAL% lss %TFIN% goto ESPERAR
