I would think just about any magnetically held contactor up through about Size 4 would have a drop out time of less than 20 ms. When you get in the very large sizes, they can be slower, due to use of coil snubbers and interposing relays, etc.
But this is only contact parting time - doesn't mean the current will stop that fast.
A quick look at starter specs for Cutler Hammer indicate drop out times of 17 ms or less up through Size 5.
