The particle can be much smaller than the resolution, as long as it's really bright, it will just sort of "smear out" over multiple adjacent pixels and it's possible, with some arcane trickery, to then localize to a sub-pixel.
since you sound like an expert, do you know if this technique works for live imaging of RNA molecules < 200 nucleotides?
or would tagging such a small molecule potentially alter biological processes and contaminate results?
[edited to clarify live-imaging requirement]
First google hit is a 2020 summary of RNA-FISH, "Technical review and guide to RNA fluorescence in situ hybridization":
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7085896/to clarify, the question was meant for live imaging and the risk of altering biological processes for target RNA molecules < 200 nucleotides.
The general term for these types of techniques (e.g., ones that let you image things below the "diffraction limit", which is roughly half the wavelength of light being used to image, see [1]), is super resolution microscopy[2]. There are a few other types you might find interesting.
1: https://en.wikipedia.org/wiki/Diffraction-limited_system 2: https://en.wikipedia.org/wiki/Super-resolution_microscopy
based on your understanding, do you think it's possible to do live imaging of RNA molecules < 200 nucleotides -- without altering biological processes?
super resolution microscopy references DNA imaging but doesn't delve into contamination risk, which is the critical bit.
the first link didn't mention DNA/RNA applications at all.
do you mind sharing the other types you recommend investigating?
this paper came out a few years ago using super resolution fluorescence and dna origami to track unwinding of dna by single helicase enzymes! its not an easy technique but it is doable with the right equipment (the 2014 Nobel Prize in chemistry was for super resolution microscopy)