In many cases, the wording works like a shorthand for a broader idea: “Slow down; I need to think.” It can be a set phrase in the sense that people recognize the pattern—name included, request clear, pace slowed. But it’s not a formal contract or a universal code.
Interpretation depends on context. Was the conversation calm or heated? Did the other person ask for time before, and did they follow through? Are you asking for a decision, or are you asking for emotional reassurance?
The more important part than the phrase itself is what you do next. If you communicate well and follow through, “don’t rush me katie” becomes a moment of respect. If you stay vague and only ask for time, it can turn into a cycle of uncertainty.