Yes I think that is possible however it currently needs some configuration.
First quit BTT and execute this terminal command:
defaults write com.hegenberg.BetterTouchTool BTTNoNamedTriggerOnLeftRightClick YES
Then start BTT again and create a named trigger in the "Automations, Named & Other Triggers" section, assign the return key shortcut to that named trigger:
Then in the configuration of your gesture, go to "advanced" and choose the created trigger under "Execute named trigger after release"
Now it will activate the window once you remove the last finger from the trackpad.
You can also configure the action like this:
Then it will select the next window when you do another tiptap while still touching the trackpad.