You should always allow caulk to cure to account for shrinkage. Most caulks shrink at least 10% after they have completely dried. Some even shrink up to 30%. This is not necessarily a problem. The seals will still be seamless and the bond just as tight. Shrinkage is a normal outcome with caulk so it’s best to take the issue of shrinkage into account when applying caulk. Sometimes a second layer of caulk is required and will produce a neater surface instead of overfilling a crack with caulk. A very good idea is to allow Elastomeric Latex Caulks to cure. Always give elastomeric latex caulks plenty of time (1-3 days) to cure before painting them. The reason is that these types of caulk are much more elastic than any paint that is applied over them and the paint can’t stretch enough to avoid cracking during the caulk’s curing (and subsequent shrinkage).
Just another expert idea from Guy Calor, the Caulk King and CaulkWarmer