What's the meaning of this?
Llego sobre las 3
It means before, around, after, after but not by much?
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means "arriving just in time", with absolutely no time or very little time left. The implication is that the arrival was close to being a late arrival, and the person (or a delivery, or a form of transportation) narrowly avoided it.
This use seems to be common in several Latin American countries:
Mexico: El impresionante gol de Funes Mori sobre la hora en la final entre Monterrey y América de México (Source)
Argentina: Liverpool ganó sobre la hora (Source)
Uruguay: [...] sobre la hora optó por vestir la camiseta del “Rayadito” (Source)
Chile: Leeds de Marcelo Bielsa igualó sobre la hora ante Preston y sigue sublíder de la Championship (Source)
In Spain, someone saying Llego sobre las 3 sounds as a message being sent when somebody is notifying another about the approximate time they will be arriving.
If I heard this, I would assume that they will arrive somewhere between 2.45 and 3.15, that is, at 3 with some delay or advance.
Other options can be:
If that person would want to specify they will be exactly on time, they would say either of these: