Something fairly similar, called a strobe tuner[1], is used for tuning musical instruments. (Before electronic tuners, these were more popular, but they're apparently still used.)
There's a mechanical spinning disk that turns at a precise rate. It has patterns on it, and the sound of the instrument controls the strobe light.
Your goal is to adjust the pitch of the instrument until the wheel appears to stand still.
That video claims accuracy as good as 1/10th of a cent.
There are 12 notes in an octave, and a cent is 1/100th of the distance (in frequency) between two adjacent notes. If it can tune an A440 within 1/10th of a cent, then that means it can get the frequency within the range between 439.975 Hz and 440.025 Hz[2].
If I've got the math right, that means it's measuring way more precisely than a millisecond.
I have something like this built-in to a modified cigarette pack guitar amplifier. I have two LEDs wired in a circular-series circuit (I have the positive of one attached to the negative of the other, repeat for the other end) and I have those on the speaker output in parallel with the speaker. I can watch the harmonics visually via the LEDs when I play and tune the guitar.
There's a mechanical spinning disk that turns at a precise rate. It has patterns on it, and the sound of the instrument controls the strobe light.
Your goal is to adjust the pitch of the instrument until the wheel appears to stand still.
Here's a video about how that works: https://www.youtube.com/watch?v=U8KHeyT6xB0
That video claims accuracy as good as 1/10th of a cent.
There are 12 notes in an octave, and a cent is 1/100th of the distance (in frequency) between two adjacent notes. If it can tune an A440 within 1/10th of a cent, then that means it can get the frequency within the range between 439.975 Hz and 440.025 Hz[2].
If I've got the math right, that means it's measuring way more precisely than a millisecond.
---
[1] https://en.wikipedia.org/wiki/Electronic_tuner#Strobe_tuners
[2] 440 * 2^(-1/12000) and 440 * 2^(1/12000), respectively.