Minmum & maximum delay in reporting Heart Rate + accuracy

I have read some topics where people reported accuracy problems with heart rate due to sweat itp. It hadn't been a problem for me until yesterday. For the past few weeks I go on ~30km hikes 1-2 a week. Sometimes it involves going uphill and if I go off the path the degree of elevation gets pretty steep. At that moment, after few minutes, I can feel my heart rate going above 160 but the watch still shows 90-110. 

I kept looking after few minutes if it caught up but it didn't. I had a 1.5km elevation gain yesterday and it was very rare the watch would say my heart rate was above 150 (at times it was more like 185).

Here is a good example, you can see elevation gain with heart rate, it actually went down. I didn't have problem with sweat before.

Does anybody have similar problems? What can we do to at least ensure the best accuracy possible? Is the heart rate on the watch the average of last x minutes?