yes, as Ron and Ken said ... not only does the internal circuitry of the module have to react to the input signal, but the processor has to have time to “see” the input and update the ON/OFF status of a bit on the input table ...
so the “reaction time” of the module has a lot to do with it ... but so does the length of the processor’s scan time ...
specifically, it’s entirely possible to have the processor “miss” seeing a change in the status of an input which is only ON (or OFF) for a very brief time ... and the longer the scan time, then the worse the problem can become ...
as a practical note: some applications may benefit from the use of one or more judiciously placed IIMs (Immediate Input with Mask - for SLC-500) or IINs (Immediate Input - for PLC-5) ...