if the speed is measured in the direction of travel, which I think it probably is, and say the ball is hit at a 20deg launch angle, then its forward velo is its absolute velo times the cos of 20 deg, (about 0.94). So for the sake of a hypothetical, if the the batter hits it on a rope line at 100ft/sec (88mph) to first and the 1b is exactly ten feet behind the bag (100 ft away), it gets there in exactly 1 sec. But the same ball hit at a 20deg launch angle passes over his head in ~1.06 seconds.
Of course for a ball hit on the ground the bounce makes all the difference and that has all kinds of factors like spin and dirt vs grass and how much rain recently etc, so probably more complex than worth worrying about!