I think I would need to combine both: Python's timer and invokeAsync. Because invokeAsync doesn't have a fixed time as a parameter.
From this post: AttributeError: ‘com.inductiveautomation.ignition.common.script.Imm’ object has no attribute ‘invokeLater’
They both seem the same but probably some minor differences.
Edit #1:
I think it would be nice to call the timer through an invokeAsync to get a description of the thread in the gateway. Maybe I'll create two threads by doing so. Any thoughts on this?