Unless you're late deploying a parachute when you jump out of a plane. Then late and never are pretty much the same things
That depends on how late you are and how good you are!
Typically pull altitude for licensed skydivers is between 2000 to 2500 feet.
An experienced skydivers can be late as 1500 feet before deploying their canopy (like it's piece of cake np!)
An AAD (Automatic activation device) will open the reserve canopy for you by cutting the closing loop of the reserve pack. Most of the models will activate at about 700-750 feet. So, they are always late!! There is a good chance that you won't get killed. (But most likely you have got the rest of your life to fix it )
So, It is always better late than never