I tried making a Borrowed Time build with the Ugake Otarah set since launch, but it wasn't viable compared to Twisted Rounds for a few reasons. Terminal Velocity feels like it was made for the exact build I had in mind.

The Leap of Quietus (25% ArP) node was broken since launch and was fixed in Worldslayer. Twisted Rounds was also broken and ignored 90% of enemy resistances. Those two things changed. Now Tricksters can get 95% Armor Pierce and Cheap Shot Pax node reduces enemy armor by 40%. Trial bosses have a lot of armor.

Twisted Rounds is not mandatory anymore, and it actually has a very big downside. Bullets have hitbox multipliers that vary for different enemies. Hitting extremities sometimes does less damage, but other parts of the body will take more damage. Crit spots can have a separate damage increase from +% crit damage. You don't get those when you have Twisted Rounds.