According to them, they were allowed to advise her, but not fund her. They only fund about 2/3 of the cases that come to them for it.
And set her up with connections to lawyers who could take this case, and other resources.
And, as per 501(c)(3)s, once someone becomes presumptive nominee, they can't do that anymore. That's why Trump IMMEDIATELY set his reelection campaign basically the day after he was inaugurated. As a presumptive nominee barring anything else, he'd be the Republican Candidate, meaning 501(c)(3)s wouldn't be able to actively fund against or for him legally.
So, once Biden became the presumptive nominee on Super Tuesday, it was over. Because, barring this allegation being found to be credible (hopefully anyway), Biden will be the Democratic candidate.
And if Time's Up were still involved, they would then have to either drop it, or lose their 501(c)(3) nonprofit status, as they were funding a public charge against a candidate.
Because a nonprofit cannot support or oppose, financially, verbally, or in writing, candidates that would be elected.
Now, this doesn't affect Bloomberg's NDAs, because he was never on track to win the nomination. It WOULD cover Sanders, however, who was the other one candidate who had a ghost of a chance.
Because of Biden's polling, he has been the presumptive Democratic candidate since he announced his run. And though he may have undershot his polling when it came time for primary voters at first, it's clearer by the day that he will be.
Ergo, you run up against losing your nonprofit status. And once that happens, you become completely beholden to large donors, some of whom could pull your funding at the drop of a hat if you ever come across accusations of their improprieties.
So I don't see it as beyond the pale that Time's Up couldn't take it directly, but still giving her resources to check and lawyers' numbers to call shows to me that they wanted to help.