Yes, the SetDuration Sound has replaced the TimeOffset Sound.
The SetDuration schedules its Input to start at StartTime (relative to the start time of the SetDuration itself) and stop after it has been active for Duration.
If you set the Duration of a SetDuration to 2 years you will get exactly the behavior of the TimeOffset.
SetDuration is used for scheduling a Sound to start at a time other than time zero. If you want a classic signal delay, you should use the DelayWithFeedback Sound instead.