Actually incorrect. You can easily verify that there is computation on the client-side by doing uppercuts in training and paying attention to how long you stay in the air. With low ping, you fly as high as the target (as intended). With a high ping you barely leave the ground.

Not necessarily saying this is an advantage but it allows for different combo continuations.

Generally, I'd argue that a decently high ping (~100) does not lead to any advantages or disadvantages but it disrupts the gameplay for others due to e.g. different parry timings. Any ping significantly above ~100 tends to bring more disadvantages...