I've experienced human live translators and more often than not they paraphrase a sentence as a whole after it is uttered. I couldn't imagine otherwise because you can't start with translating until the sentence is finished by the original speaker. With human translators there's the additional challenge to translate/speak while listing.

You can’t translate word by word. You need entire phrases, sometimes pretty long ones, to understand the meaning.

Obviously translation is possible but not "synchronously" as you wish. From what I understand 200ms is "time-to-first-token", so I still wonder how that works because, as I wrote in my comment above, typically there is no one-to-one correspondence of words/tokens from one language to another. (I didn't downvote your comment)

Not to mention that sometimes you need more than one sentence to get the full meaning