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TFS isn't too bad compared to the other AENA run charter airports, it's probably the best airport in the Canaries, but still in your shoes I'd find a way to arrive at 17:30 hrs or even a bit later, and spend the time enjoying a leisurely afternoon at your hotel or resort. The lounge is OK, basic, but better than being in the open areas of the airport. I wouldn't aim to be there more than an hour, there are more details in the Europe lounge guide in the dashboard. If you are on the road to Cristianos and Adeje then there is a twice hourly bus service to the airport. Getting through security is fairly swift and the passport check is superficial.
But thank you for the question makeitthisfar, and welcome to Flyertalk, it's by no means the least simple question we have had here! Welcome to the the BA forum.