What in the world is "delayed" supposed to mean? if Windows Defender can detect an file thats not in the cloud it still can detect stuff using the cloud, it simply increase resource usage and puts unknown files in timeout for 60 seconds or less, depending how you have the Cloud Check Time Limit configured, in the end the cloud is there for usability and not getting in the way of the user.
Reputation based detection is the same on any configuration of WD, except if the ASR rule
"Block executable files from running unless they meet a prevalence, age, or trusted list criterion" is enabled and has significantly improved Defender's ability to detect things like PUP's, riskware, hacktools, cryptominers, etc, all based on reputation.
AMSI simply is poorly implemented in most AV's, except for a few which I have witnessed myself when testing AV's against malware, not to mention a lot of them have independent technologies to detect malicious scripts, and finally almost all AV'ss, like Windows Defender, relies more on analysis in the cloud rather than local, post-execution technology like AMSI, its all part of the strategy of layered protection, they can also detect the connections to C2 servers or when they download the malicious payloads to an infected system.
If you actually knew
how WIndows Defender worked you would already know all of this, instead you cherry pick on half-true details.