Closes #19531

• Lengthen the race window from milliseconds to seconds.
• Don't sleep any longer than necessary if a task has already completed.

PR Summary

Addresses request by @daxian-dbw in #19330

Raised as #19531

PR Context

CTRL C tests rely races on timeouts that had time-frames in 100s of milliseconds. These may be too tight when running in CI where resources are stretched. Increased the timeouts and changed logic so it only waits as long as necessary if possible.

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