Within BEAM itself there’s no priority mechanism, however, on a RPi3 or BeagleBone you could get about an 200 uS average response time to GPIO on Linux, even under moderate load. The jitter was pretty low too, like 10-20 uS on average, but the 99.9% tail latencies could get up to hundreds of millis.

That’s fine for many use cases. Still I now prefer programming on esp32’s with Nim for anything realtime. Imperative programming just makes handling arrays easier. Just wish FreeRTOS tasks had error handling akin to OTP supervisors.

Now Beam/Elixir would be amazing for something like HomeAssistant or large networked control systems.