Not yet reviewed by Pith; the record is open.

Context. White-light stellar flares are proxies for some of the most energetic types of flares, but their triggering mechanism is still poorly understood. As they are associated with strong X and UV emission, their study is particularly relevant to estimate the amount of high-energy irradiation onto the atmospheres of exoplanets, especially those in their stars' habitable zone. Aims. We used the high-cadence, high-photometric capabilities of the CHEOPS and TESS space telescopes to study the detailed morphology of white-light flares occurring in a sample of 130 late-K and M stars, and compared our findings with results obtained at a lower cadence. We developed dedicated software for this purpose. Results. Multi-peak flares represent a significant percentage ($\gtrsim 30$\%) of the detected outburst events. Our findings suggest that high-impulse flares are more frequent than suspected from lower-cadence data, so that the most impactful flux levels that hit close-in exoplanets might be more time-limited than expected. We found significant differences in the duration distributions of single-peak and complex flare components, but not in their peak luminosity. A statistical analysis of the flare parameter distributions provides marginal support for their description with a log-normal instead of a power-law function, leaving the door open to several flare formation scenarios. We tentatively confirmed previous results about quasi-periodic pulsations in high-cadence photometry, report the possible detection of a pre-flare dip, and did not find hints of photometric variability due to an undetected flare background. Conclusions. The high-cadence study of stellar hosts might be crucial to evaluate the impact of their flares on close-in exoplanets, as their impulsive phase emission might otherwise be incorrectly estimated. Future telescopes such as PLATO and Ariel will help in this respect.