Frankly, that same action works for irons in general, the body after some training knows when to release but that is a lag position. Also, on a larger scale works for driver and long irons/woods. The chip is just a shorter version of the full swing with a few modifications.
If one is prone to early release in the full swing, he/she will also be prone to same in chipping and pitching-heck-even putting when we see pulls left of the hole.