Allow me to disagree on this. The time delay in my computers' (yes, multiple; I always carry a backup) depth numbers is noticeably slower than my depth changes.
We live in a free world, of course you may disagree. What ever works for you. Except.
Sure a computer (it doesn't matter how many you carry, pick just one) will react with a lag. As will you reactions. Particles etc are also unreliable. You eyes can deceive you, and you can't always guarantee particles are around (what happens on a vacation in nice clear blue water. (some also may find concentrating on particles disorientating) The only thing you can guarantee is the computer on your wrist
All that aside. You know your depth by your computer. You can sense small changes when shallow - not so much when deeper.
When following your computer, you will see how much a breath will affect your change of depth (at any given depth - more so when shallow)
You like me have a metric computer(s) it's easy to see the change of depth reading. If it's changing by multiple 0.1m at once, you're not neutral in the first place. However if you are neutral, each breath won't have a huge impact before you can arrest that impact. You breath in, see yourself moving and breath out.
With practice you can be ahead of these changes. Like today, I was hovering near the anchor line whilst student from another operator were gripped onto it. I could easily keep my SS to within 0.5m (being lazy) whilst keeping in contact with my buddy. No point using the line as a reference as there's a boat attached which is going up and down, likewise the divers on the rope.
The only reference you have is your computer. It doesn't matter it's lag or even if it's inaccurate as you computer is using it's own data. Just follow the changes in depth. Actually it's quite therapeutic and relaxing.
Non of this will work with a mechanical depth gauge.