No, quite the opposite.
If your parent event is "animation has ended", and in the sub-event you check if objects are overlapping, then overlapping check will not be performed while animation is playing. So it will have zero impact on performance.
It's the same situation with "On collision" event, however since "On collision" is a triggered event (it only lasts for 1 tick), you should be careful when using it in sub-events.