Bruce, I meet all 3 of your criteria for this device in my RM rule:
(1) the device does not report physical on/off events, (2) you need physical on/off events for an automation or Dashboard display, and (3) it is an older non-Z-Wave+ device.
This one is going to wait 5 minutes, then turn off the light, and continue to turn it off every minute until it is turned on, at which it would stop turning it off over and over again. If it is turned on during the 5 minute wait, it won't do anything until the next time the rule fires.
My suggestion about not doing this is that it leads you down a path of trying to put diapers on things, and pretty soon you have a mess on your hands. Better plan, IMO, is to get us to fix the underlying cause than to put diapers on the problem. But, choice is good.
Yes, it does matter a little. That device should be using the "Generic Z-Wave Switch", as that driver assumes it is not going to get a response back from the device (IIRC). As a result, it immediately updates the status and sends an event when an automation changes the state of the switch. So, it really does not make a lot of sense to bother refreshing that switch since the state will be what was commanded already. Think of it as 'fire and forget' and 'hope the switch does what it was told to do.' The Z-wave (non Plus / non properly reporting) switches should use this driver.
The "Generic Z-Wave Smart Switch" does not behave this way (IIRC). It sends the Z-Wave command to the switch. The switch has to send a status report back to the hub for the driver to change the state of the switch and send an event. The Z-Wave Plus switches should use this driver.
Again, this was my understanding from a few months ago when these drivers were released/revised.