With four seconds left and the ball at the other end, there isn't that much difference between a 1- or 2-point lead. Highly unlikely the opponent gets a 2-point shot off, even less so if you guard the inbounder.
Make the free throw, team can take it out of bounds and throw a pass near half court and have the ball there when the clock starts moving. There's time to take a couple dribbles or throw another pass before it's time to shoot.
Miss the free throw, and the clock starts moving when the ball is touched next and the opponent isn't set up to attack. One pass maximum, highly unlikely you get a shot in the frontcourt.
Four seconds is about the longest amount of time I'd consider calling for an automatic miss. Not sure how much it helps with more time left than that.