Does the check have to happen after a certain delay? A solution that I think would suffice in most situations would be to split your code up a bit. Don’t trigger your isDisabled() function in changedValue(). Instead have it run on the onBlur event instead.
Try this:
<TextField
hintText="Password"
floatingLabelText="Password"
type="password"
errorText={this.state.password_error_text}
onChange={e => this.changeValue(e, 'password')}
onBlur={this.isDisabled}
/>
and then your function becomes:
changeValue(e, type) {
const value = e.target.value;
const nextState = {};
nextState[type] = value;
this.setState(nextState);
}