2011 gt camshaft position sensor
 

Will the sensor itself have an effect on delayed acceleration or is there something wrong with my camshaft??

I have no idea and that's a tough one without more information . . . you might want to try posting this in the 2010-2014 section for a better response
https://themustangsource.com/forums/f726/

Delayed Throttle Response
 

Do you have a code present for the cps or are you just suspecting it of being a possible cause for the throttle delay??

It could possibly be the drive by wire system,that took the place of the traditional mechanical throttle cable that was used on earlier Mustangs. The gas pedal is electronically controlled,similar to a dimmer switch,which has to send the signal to the ECU,which in turn sends the signal to the throttle body which causes this momentary delay.Some call it pedal lag.If this is the cause, the only way to get around this is by getting a handheld programmer/ tuner that allows you to turn this function off or a drive by wire throttle enhancement device.Ive also heard some mention the traction control system possibly creating a delay too,but Im unsure if these two systems are intermingled or not?? Does your model have a button you can press to turn the traction control system off/on?? If not,and if the tcs is involved with the throttle delay thats occurring,the tcs would have to be turned off via a tuning device like I mentioned earlier.