Are effects capped by the game's max framerate?

I was planning to use Reshade to mask the 30 FPS cap of a few games with such a limit, like Tales of Symphonia, by using the motion blur filters. However, before proceeding, I need to know if such filters are capped by the game's maximum internal framerate, or if it's possible for ReShade to render filtered images at a framerate faster than the game itself.

No. If the game forces 30 FPS, ReShade cannot change that and renders at the same framerate.