The meaning of "account for" in a specific context

A colleague of mine wrote something today that is still boggling my mind.

Os delays video when a headset is present to account for the latency

Is "account for" the synonym for "take into account" here? All the dictionaries I checked don't list it as a synonym therefore I am a bit confused if that is an incorrect use of "account for" or I am missing something.

It's definition 4 in this Merriam-Webster definition:

US : to think about (something) before doing something : to take (something) into consideration
The researchers failed to account for the fact that most of the students were poor.