Ah, Grasshopper....
If you are fully in tune or in touch with exactly how you feel while running various efforts, you run a time trial close to race effort, without straining. You will know where you are at.
Under distance, over distance, and at the distance. But it is important to do them at the right time of your schedule.
If you are building your aerobic base and disrupt the process by racing, you can cannibalize the conditioning that you are building. It's like planting a seed, it grows into a sapling, but you are impatient, so you dig it up to see if the roots are taking, damaging the tree in the process.
This pandemic is the perfect opportunity to just go out and run as much easy, medium, steady, and strong miles as makes sense for your age, ability, and fitness.
It's about peaking on the day.
NOW, if you are the type to be impatient and need to race all the time, then during the Lydiard aerobic phase (8-24 weeks depending), you can run out-and-backs. A wonderful effort:
Find a route that is gently rolling that you can run 15 out and a wee negative split back with the exact same effort 100% of the time, every single time. Do this once per week, at your best effort without straining. Finish thinking, "I could have run faster if I had to, but I am glad I didn't." So, quite strong.
Over time you will see the turnaround point on the route is farther and farther out. Once you stop improving, then you have diminishing returns and it is time to move onto the next phase of training. This weekly out-and-back is a little like TT - you can get a sense of your fitness without training too-too hard.
If you do it with some friends, everyone can be at different fitness levels, it doesn't matter, everyone should finish close together, as you turn around at the same time on the clock. You are just covering different distances. Warm-up and warm-down together.
Important: Sure, take the watch, but don't look at it to check pace ever, you are going by feel. It should be by feel 100% of the time, it should be at the same EFFORT 100% of the time. Set the watch to beep at 15', so you don't look at it.
If you have to speed up or slow down at any point, you are not going at that magic effort.
I personally have used the 30' out and back with even splits, slight positive split because it is down out and up back (marginally). I think an even split is like a slight negative split on this route. If it is absolutely equal out and back, then a slight negative split is the goal.
The 30' out and back is low Lactate Threshold and good Anaerobic Threshold stimulus, then once I see no further improvements, I move to 15' out and back....(or people I have coached do)......
Now for the actual TTs, you should have built your aerobic base first, done some sort of hill phase, or transition to anaerobic training (intervals), then consolidation phase where you do a few time trials. The whole cycle can take 18-52 weeks depending on age, fitness, distance racing etc etc....