Python – Most effective way to correct user-inut.

Hello everyone,
I am working on a project, which corrects user input (reads input stream from keyboard with keyboard module hook) based on some rules.
I am trying to find the fastest way to delete and write the corrected word, after a user enters a wrong one.
Currently I am using pynput, but I noticed that it faces problem when the user types very fast.
To give you a better idea of what I am looking for, I quote the above pseudocode.

user enters a word
some_checks_are_made
if (ok):
  do nothing
else:
  press_the_backspace_button_until_delete_of_wrong_entered_word
  write_the_new_word

To make it even more clear, the main problem I am facing is that my program delays on deleting and writing the correct word and the user overlays the words written from the program.
e.g. (just an example - not program's functionality)

user writes 'honeu' (the correct word is honey)
program starts deleting and deletes until 'ho___'
user starts typing next word 'hello'
the result is 'hohelloney'
I tried explaining it as better as I could.

I am just asking for any suggestion or solution to this problem.
! They proposed me to do the above grab the word as it's being typed, calculate your correction, then go back to the text and make the correction all at once if the word is still there. This means storing the text in a buffer (not repeatedly simulating backspace presses).
But I don't know how to go back to the exact position that the word was written.
Thanks in advance.