Does entanglement swapping happen instantaneously?

Is entanglement swapping instantaneous?
Suppose photons 1 and 2 are entangled. And, 3 and 4 are entangled.
A Bell-state measurement (BSM) is performed on photons 2 and 3 to cause entanglement swapping so 1 and 4 are now entangled. Was the entanglement of 1 and 4 instantaneous (right when the BSM was performed)?

I believe this question is different than others like Does entanglement have a speed or is it instantaneous.
I am asking about the swapping action.