Suppose I want to use a paragraph field value of an entity for metatag title (by using metatag views module)
I can successfully get the value of the paragraph entity and display it on the view
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I do not believe this is possible if paragraphs module does not provide this token itself. The way to do it would be to create your own token. Even with this it may be tricky to figure out that information.
To create your own token you will need to look into the hook_token_* items such as hook_token_info.
It sounds like to me your best bet would be attempting to hook into the views pre processing and change the value that way.