No. City's goal was ruled out because a team-mate was deemed to have created a goal scoring opportunity through accidentally handling the ball. If a defender does that and a team-mate clears the ball and it lands to another team-mate who then scores at the other end it is the same thing, a GSO, and the game is restarted with a direct free-kick, only it's in the penalty area so has to be a penalty. There's no caveat in the laws about losing/re-gaining control or possession, phases or time limits, distances the ball has travelled etc.
Imagine this is at the end of the game and the Dippers need to score a goal to win the league so have pushed everyone up for a corner. City are defending, it accidentally comes off Laporte's hand (no penalty), lands to Otamendi who lumps it up field where Jesus latches onto it and scores into the open goal. VAR kicks in as standard, spots the defender's accidental handball so disallows the goal. Game restarts with a penalty to the dippers.