Where does QA fit in? All over.
I get your problem: if you're wanting master to be always ready to release, then you want to make sure your work is tested before you merge to master. But if you don't test against master, what if the combination of your changes and someone else's causes an issue? And if you do both, isn't it a lot of work?
The solution IMO is a combination of automated checks and spreading test effort over hotfix branch & master rather than all on one or the other. It does assume that you (as dev) and I (as tester) are working pretty closely on the same team, rather than in different teams with a load of bureaucratic overhead and formal handovers that stop us collaborating effectively.
Feedback from a tester is most useful when you get it as early as possible. I am happy to test interim work, because if I can save someone having to go back and rip out a load of stuff by finding issues early, that's great, and it also enables me to learn more about the feature earlier (building up my mental model, test data, ideas for automated checks) so I'm not scrambling to catch up when the final build is ready. Ideally, I'd have written you some automated acceptance checks while you were developing, so that you can run those and your unit tests against your branch and master without a lot of extra effort. (In practice, I don't always get to this in time, but when I have it's worked well). And I'd also expect that whatever checks you have running against master, that you also run them against your hotfix branch just before committing.
If there is a lot of work going on in the same area of the app, then I'd want to do at least some quick exploration against master after your merge - possibly more if it's a critical area. Our automated suite has caught some regression issues and I wouldn't want to be without it, but having automation is never a good reason to not do a little critical thinking about risks.
This is one approach: there are plenty of others that may work for you, dependent on your environment. For one interesting approach I heard recently, look up "Improve The Process By Taking Control" by Amy Phillips from Songkick - where they moved some of their test effort after release, on the grounds that hey, production is the closest you can possibly get to a production environment right? Obviously this required use of feature toggles, and might not be acceptable in some environments, but it's a good example of thinking laterally about where it makes sense to put your test effort.