I would like the ability to hide the (timeline bar when paused. Currently the timeline bar shows when paused and does not timeout and disappear. I am currently unaware of a way to dismiss it. The overlay is at its most annoying when pausing the weather forecast.
Not sure which brand system you are using for the Tablo app, but with my Amazon 4k Max, when I press the Back button, the timeline bar overlay disappears, like you requested. Maybe that does not happen with other devices?