I've been watching the video carefully. Hollins initially has a step on the CB and by the time the ball arrives the CB has recovered half a step and is able to lunge at (and interfere with) Hollins. But is that because the CB is faster than him? Slowing the video down to .25 you can see after he crosses the 40 that Hollins does take a shorter step before lengthening his stride again. So at that point it appears that the ball was slightly underthrown and Hollins had to slow down... but then look at the end of the play. Notice that Hollins had to extend his arms and lunge to catch the ball, which is why he falls down.
In conclusion, I think Hollins slowed down because he slightly misjudged the ball. If he hadn't slowed down, the ball would have been closer to his body and he would have caught it in stride, maybe for a TD. I think the pass was dead perfect, or close to it.