What is conversion delay?

The amount of time between a user clicking an ad and that user completing a conversion action on a site, or, an advertiser uploading an offline conversion
The period of time it takes an advertiser to properly create a conversion measurement strategy for their Google Ads account
The load time of the website page used to measure online conversion actions for the advetiser’s site, such as an order confirmation page
The number of days it takes a newly adopted Smart Bidding strategy to ramp up after a campaign’s first recorded online or offline conversion

The correct answer is:

The amount of time between a user clicking an ad and that user completing a conversion action on a site, or, an advertiser uploading an offline conversion.