It's not necessarily global - the tempo can be set per Preset.The dotted eighth selection is tied to the global tempo.
Also looks like we can have manual control of ms if we switch tempo to “none”.
The AX8 manual doesn’t cover all of the effects but the AxeII manual does cover the delay block. The first mention of Delay time that I see is on page 61.
https://www.fractalaudio.com/downloads/manuals/axe-fx-2/Axe-Fx-II-Owners-Manual.pdf