Time Lag (時ずらし Toki-Zurashi, lit. "Time-Shift") is a special technique used by Hit as a replacement for the Time-Skip. It is only displayed in the manga.
By powering up and then performing a hand sign at their foe, the user slows the enemies' time, thus slowing their movements. The technique uses up energy and so can only be used to slow an opponent for a few seconds, additionally it cannot be used consecutively, with Hit claiming he will only be able to use it once during the Tournament of Power.
In the manga, Hit learned this technique prior to the Tournament of Power due to his realization that he over relied on the flawed Time-Skip technique. He utilizes it against Jiren in order to gain an advantage over the powerful warrior, however Jiren had not been fighting seriously and was faking a disadvantage simply to lure Hit to the edge of arena, whereupon he knocked him out with a single blow.
In the anime, Hit uses a different technique called the Time Prison.