Would it be possible to set the option whether the hold key or the toggle is of higher priority?

For example:

The default way (the way it works now) is that pressing down a toggle key activates the toggle function on press, after which you just release the key which does nothing further.

If you could set the hold key function to higher priority, than you could put a hold and a toggle function on the same key, so when you press and release (toggle) the key, the toggle function would be activated on key release only, this would allow you to hold down the key and the hold function would be activated and the toggle canceled/not performed (since as described above it would toggle only on key release, but you don't release it instantly but hold it long enough for the system to recognize it as a hold function).

In short: Hold key to use hold key function, push and release (toggle) would toggle, namely on key release.