Thanks Joao. Yes, for this particular example, the Tick event can replace this Intent. But for other intents or logcat events, it behaves the same way and I can't replace them with something else.
For example, I have a logcat event context that waits for a certain event. When display is on, as soon as the log is created, the profile triggers within 1-2 seconds. When display is off, the profile doesn't trigger until 5,10, 30 or more seconds later. You know Tasker has the display on and off monitoring check times for wifi, but, net and etc. Seems like it is the same with intents and logcats. When display is off, the response time is a lot slower than when display is on.
For now, my workaround is to use a 10-second Tick and check the logs manually. This guarantees the response time is no worse than 10 seconds.
This could well be caused by Android. I have noticed that if display is off but phone is being charged, it behaves as if display is on, no delay.