Times-Roman is one of 14 Adobe "Standard Type 1 (i.e. Postscript, not TrueType) Fonts", its metrics are known to every PDF viewing application. Even if these fonts are not embedded or present (way too often), the available substitution fonts are source of glyph shapes only. Metrics, i.e. character widths, i.e. character displacements while advancing forward when text is rendered, -- are those of original Times-Roman, not "Times New Roman" (if on Windows). Differences between T-R and TNR are tiny. Plus, there are millions of documents with 14 core fonts not-embedded. I'd be very interested to have a look at a case when "formatting is thrown off".

That's said, if you are intent on embedding, your option is to embed TTF, not original Type 1 font: prTTFont (but that's POD for the very module you are using...). As I see, this function was added in version 0.34, and CPAN testers say additional required modules are OK with 5.8.8