Yes there is. However, quantifying it is difficult, as it will depend upon the browser, the internet speed etc. To get a glimpse of this, preview a page with a timer question, you'll see different timings. Even the internal Qualtrics clocks, such as "Advance page after .... seconds" tend to show different times. They are reasonably accurate for normal purposes, but I wouldn't trust them for experiments, unless precision required is in seconds.

Hi,
Thank you for your reply.
Would this not be similar for all online experiment servers - in terms of browser, internet speed etc? Or is this particularly bad for Qualtrics?

Its not particularly better or worse than the others, its about quantifying variability. Read this post for more details about Qualtrics loads pages. As Qualtrics is more oriented towards customer experience and business use cases, the timing precision that they require is not much.
I would recommend building your experiment on an external site like Gorilla.sc or Labs.js and then using Qualtrics to distribute it.