Values for a person were changed while they were in a wait step and you want to know if this will affect the values they see in an email they are set to receive after they come out of the wait step.
When a lead enters a wait step, they are put on hold until the specified time. The logic is simply to wait until the specified time, then move on to whatever the next step is. The next step can even be changed while people are waiting, and they will go on to the new step.
No content is generated in preparation of them exiting the step. When the wait step ends, the person moves on to the next step in the flow. Any information that was updated while they were waiting will be reflected in that next step. Thus, if values were changed while they were in the wait step, those new values will appear in the email they are sent after the wait step.