The arithmetic matters more than the concept, because it is what makes the "shot behind cover" complaint inevitable rather than a bug.
shooter: ping 80ms, interpolation delay 100ms, server tick 60Hz
t = 0 server simulates tick 500, target at position P1
t = 40 snapshot for 500 reaches shooter
t = 140 shooter's interpolation delay expires, target drawn at P1
shooter fires here, tagging the command with tick 500
t = 180 fire command reaches server, now simulating tick ~511
target has since moved to P2, possibly behind cover
server rewinds its history to tick 500, restores the target to P1,
tests the shot there, and awards the hit
The number that governs everything is 180ms, and it is the sum of two different delays. Half of it is the network round trip, which is the part everyone accounts for. The other half is the shooter's own interpolation buffer, which is a client-side rendering decision the server must nonetheless know about, because the shooter was looking at 100ms-old information when they pulled the trigger. A server that rewinds only by measured ping under-rewinds by the interpolation delay and quietly denies hits that the shooter saw connect.
The second thing the timeline shows is why the target's experience is unavoidable. Between tick 500 and the shot being resolved, eleven ticks of real simulation happened. The target genuinely moved, genuinely reached cover, and is then killed by a shot resolved against a world in which they had not. No amount of tick rate closes that gap, because it is made of latency, not of resolution.
The design lever is the rewind limit. Servers cap how far back they will reconstruct, typically to a few hundred milliseconds, because beyond that the target's experience becomes indefensible and the window becomes a cheat surface for anyone who can inflate their reported latency. Naming that cap is the part of this answer that reads as production experience.