In the past I've done cooldowns as a specific time in ms, but I was thinking isn't having tick based cooldowns better. This would be more accurate and efficent(not sure).
The bad side I can think about is that if the tick rate is increased, it would affect the game logic. While having a base update rate and a multiplier(that can be applied to everything that is tied to tick rate) would probably fix this, I am not sure if this is a good approach.