When assigning macros what does 100ms mean?

I was just wondering if it means 100ms between each button action like what’s below…

1 down
100ms delay
1 up
100ms delay
2 down
100ms delay
2 up

with another 100ms between the action of the next macro when toggled on

or does it mean something like

1 down
10-50 ms delay
1 up
10-50 ms delay
2 down
10-50 ms delay
2 up
10-50 ms delay

with the 100ms only being between the end and start of another macro operation?

we all use a either program (Autohotkey) or keyboard/mouse (that has programable buttons), that we assign the macro to a key/button on those. we set said button/key to 100ms. so when we hold that button/key, it runs the macro at that speed.

Ok I wasn’t sure I am using the iCUE software and it allows me to put delays between each event as I showed above, or I can remove the delay between the key going down and back up and just make it 100ms between each time the macro fires?