Turns out throttle() from lodash was the correct way to go. To solve this problem I ensured that the options for the trailing edge were set to false:

const handleClick = _.throttle(
    (index: number) => {
      if (active === undefined) {
        setActive(index);
        return;
      }

      setActive(undefined);
    },
    200,
    { trailing: false },
  );