With remarkable advancements in the development of connected and autonomous vehicles (CAVs), the integration of teleoperation has become crucial for improving safety and operational efficiency. However, teleoperation faces substantial challenges, with network latency being a critical factor influencing its performance. This survey paper explores the impact of network latency along with state-of-the-art mitigation/compensation approaches. It examines cascading effects on teleoperation communication links (i.e., uplink and downlink) and how delays in data transmission affect the real-time perception and decision-making of operators. By elucidating the challenges and available mitigation strategies, the paper offers valuable insights for researchers, engineers, and practitioners working towards the seamless integration of teleoperation in the evolving landscape of CAVs.