No, this is NOT correct. If you make the change before the package arrives at the CC (aka the hub) then the package will be delivered to your store the same day as it would have been delivered to your house. They absolutely do not see that you've made a hold request and put it on the truck anyway, and then drive around with it all day just to take it back off and put it on a different truck.
If you request a UPS store that isn't in the distribution area for your hub, you may have a delay. If you don't request the change until after your package arrives at your hub, you may have a delay. If you request it after your package has shipped but before it arrives at your hub, you should be fine, barring any mistakes being made.
I've done this a number of times, and I've never had a package delayed.