Yes and no; if they're doing it right, they're using the DMA or PLL engine which runs independent of the main CPU/ALU. See https://github.com/F5OEO/PiFmRds "This version modulates the PLL instead of the clock divider for superior signal purity. The harmonics are unaffected, so the legal warning still applies."

Filtering this stuff isn't hard, but I'm realizing there aren't any good stone-simple tutorials for it. Might have to write one.