The industrial sector has long awaited a streamlined 5G variant that balances cost, power, and performance. 5G Reduced Capability (RedCap) emerges as this candidate, targeting sensors, wearables, and industrial monitors. Yet, the critical question persists: can RedCap satisfy the stringent low-latency requirements of closed-loop control, robotics, and automated guided vehicles? Unlike traditional enhanced Mobile Broadband (eMBB), RedCap reduces device complexity and bandwidth. However, latency in industrial automation is non-negotiable, often demanding sub-10-millisecond round-trip times. To evaluate RedCap realistically, we must dissect its physical layer, scheduling mechanisms, and deployment scenarios against the benchmark set by current industrial wired and private 5G networks.