With a bad hand you would be tempted to just pass without a second's thought. If you happen to have a good hand, though, you need some time to think about what to bid. If you finally decide to pass, you will have (unlawfully) shown some values in your hand through the slowness of your pass. Now partner, depending on whether or not you made a slow or fast pass, may decide to take another bid.
This is why, in duplicate bridge, you are required to wait 10 seconds after your right-hand opponent makes a skip bid. You must pause even if you have a lousy hand and has nothing to think about. The 10 second wait is supposed to prevent the unlawful conveyance of information.
Prior to 2018, ACBL players were required to first display the Stop card from their bidding boxes and say "Skip bid" to warn the opposition. This practice has been discontinued, presumably because it was used inconsistently and caused a fair amount of confusion.
99% of uncontested game auctions end with three passes, so no one expects you to pause here before passing.
Some examples of auctions where you are really expected to pause:
You are always expected to wait after a preempt.
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Similarly, you are always expected to pause after a weak skip bid by your RHO.
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