Depends on the intention

There are two swing methods in opposition and what you perceive is based on what you intend to do, or vice versa....

If you are of the "roll the arms and wrists into the ball" school, you "lead with the hosel and release late."

If you are of the "no roll" philosophy where you feel that you retain the face of the club square to its path, you UNFOLD your right hand at the last instant into the ball (it doesn't actually flatten until later) and this procedure requires less jeopardy in your timing because the face isn't open: you simply hammer the ball with a square smash (like a tennis forehand without topspin).