It seems obvious, but I also don't think it's optimal depending on what you are trying to do.

In some scenarios, e.g. bad mobile internet connection, you may also be happy with a slightly stale result (where you still have to ensure correct ordering of responses), depending on how the search overall is implemented.

One additional data point: Algolia used to do query cancellation in the past but stopped doing that (I think at least 5 years ago now), which you can test with the HN search. I'm not sure about their reasoning, but for them that seems to be the best overall default search experience.