Yes, but there the latency is not because of the conversion, but inherent part of the algorithm. Pitch tracking is needed for any form of sophisticated pitch shifting and this can only be done if the algorithm reads one or two cycles of the incoming signal. Your pedal could perform the fastest processing in the world, but there is simply no way to know the pitch of a signal before it shows up , thus you get a certain kind of lag. The more sophisticated the pitch tracking and the lower the pitches you want to support the worse this gets. I find it still totally playable with the DigiTech pedals. I find it way more annoying that their bypass circuit is not transparent, which is especially noticeable if you introduce electronic feedback on your pedal board.

The only way to pitch up signals without delay is if you do something very simple like octave Fuzzes, that essentially just rectify the incoming signal and then remove the DC offset (aside from the fuzz distortion part). That works, but sounds of course relatively unnatural, especially if more than one note is being played at once, since it just decides on every zero crossing with total disregard for the actual pitches present.