Not really. SSF was ported to Switch and Playstation 4 and it works perfectly fine, besides the input lag.
It is the ZebraEngine emulator by City Connection. Used in their Saturn Tribute collections and Baroque: Original as well.
Sega already used emulators for Saturn 20 years ago, when they bought the GiriGiri emulator by Shinya "MegaDeath" Miyamoto and turned it into the "Cyber Disc" service:
https://web.archive.org/web/20030807190727/http://cyberdisc.zaq.ne.jp/
GiriGiri (the hacked versions) was pretty light on resources back in 2001, to be honest. Games just ran fine on my end back then.