I like timed-release fertilizer, but there are much better options than old Osmocote.
Because of the way different elements and compounds move out of a single coating, a portion of the fertilizer will not leave and never becomes available to plants. Better pelleted timed release foods have several differing coatings each customized for a different group of elements.
Nutricote used to be good, but I think it's changed (and not for the better); another good one was the Pro version of Osmocote, but I don't think it's available in small quantities. The ones I have used for many years are made by Simplot - branded as Apex. They may not be available in small quantities either, but they keep well. You might go in with a neighbor and devide a big bag.