Yup. Also, in case it wasn't clear: my bench supply doesn't have current limiting, so it just keeps belting out the amps until something else gives. (I think it's actually hFE or PS limited around 10A.)
The limited response time of a CV supply looks like inductance (i.e., the error amp can't regulate fast enough and the output dips a little, then recovers); while, that of a CC supply looks capacitive (voltage doesn't change immediately in response to current, but takes some catching up).
The interaction of the two (CV to CC or vice versa) typically looks like diode reverse recovery: upon passing the threshold condition, it stays in whatever mode it was, until after that time has passed.
The mechanism for this, in most circuits, is integrator windup: you have two independent integrators (normally, an integrator is an inverting amp with a C across it; in this case, it's the op-amp's intrinsic integrating behavior (dominant pole compensation) acting as a smaller C, in parallel with the R+C network explicitly used), and while one of them is inactive, it saturates to the opposite rail. The time taken to go from rail to setpoint is the recovery time, which varies with output level and load, but is on the order of the loop time constant (~ms for a switching converter -- awful!).
Unfortunately, as transconductance amps are rarely used, it's very difficult to avoid this in a practical circuit.
Some solutions include:
https://www.eevblog.com/forum/projects/limiting-op-amp-output/msg450476/#msg450476 and
https://www.eevblog.com/forum/projects/limiting-op-amp-output/msg732595/#msg732595but these are more applicable to
voltage --> current --> Gm amp --> output loops (the loops are stacked), not merging two loops into one.
Tim