I guess the more interesting questions is whether it happens at compile time or run-time - ARC definitely injects derefs at compile time and therefore there are no gc-"pauses" at runtime.
Nim's ARC does inject refs/decrs, but they're not atomic which means it's overhead can be pretty minimal. I don't know if ObjC/Swifts ARC uses atomics or locking. GTK's object system for example uses locking which makes it pretty expensive.
Which is why in most high performance RC, you get a tracing GC in disguise, because the actual deletion is moved into a background cleaning thread.
An example of this in production is the C++/WinRT framework for COM/UWP.