Judging by the Intellectual Property Notices which you can access on your Switch if you've preloaded ToTK by just highlighting it and then pressing Options.
It looks like ToTK is utilizing FidelityFX, it's probably just FSR 1.0, but it's still better than nothing. I believe Splatoon 3 and Switch Sports utilize it as well.
I wonder if the 1.1 patch added the finishing touches to it since some people are reporting a sharper image along with better performance. Good news either way since it seems to be much improved based on some of the reports. I would dig deeper but don't wanna risk getting spoiled, it already feels like I've been playing Minesweeper whenever I browse anything about the game lol.
Anyway, long post short, I think this will run better than BoTW on Switch.