Fluid antenna systems (FAS) exploit antenna position reconfigurability to unlock massive spatial diversity within compact form factors, making them a promising enabler for 6G user terminals (UTs). However, practical port switching incurs latency and signaling overhead, which can be particularly detrimental to hyper-reliable low-latency communications (HRLLC) under finite blocklength operation. This paper investigates FASenabled HRLLC by explicitly capturing the coupled effects of spatial correlation, port switching delay, and finite blocklength coding. We derive exact closed-form expressions for the average block error rate (BLER) and average achievable rate over spatially correlated fading channels. The resulting analysis reveals a fundamental design trade-off: increasing the number of ports improves diversity but linearly reduces the effective blocklength, thereby intensifying finite-blocklength penalties. A key theoretical contribution is a rigorous proof that reliability, achievable rate, and energy efficiency are strictly unimodal in the port dimension, ensuring a unique optimal port configuration. Furthermore, we characterize an explicit switching-delay threshold that separates regimes where FAS yields net gains over fixed-position antenna (FPA) systems. Numerical results validate the analysis and show that substantial HRLLC performance gains are achievable when the switching latency remains below the derived bound.