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In the docs for Popen.wait(), it states:
Note The function is implemented using a busy loop (non-blocking call and short sleeps). Use the asyncio module for an asynchronous wait: see asyncio.create_subprocess_exec.
This is actually only true in a specific circumstance: when both using Posix/Unix and a timeout is given. If, on the other hand, no timeout is given, then it does not go into a busy-loop but instead blocks on os.waitpid(). And for Windows, it never goes into a busy-loop, as it uses the WaitForSingleObject() windows API.
This note in the docs caused me to refactor my code to use asyncio - only later did I actually check what python did internally and discovered the note was wrong.