I have never seen a capture device with USB interface have any kind of usable latency, you’ll want one with PCI Express interface.
Elgato makes a capture card with PCI Express interface, I had a friend who used one to play all of his consoles on big virtual screen in VR. I tried out Mario Kart 8 for the Switch and it played great.
Yep, I only played through couple races & was a few beers in, it felt acceptable for me at the time. Not sure how it would be with the latest gen Elgato cards & they are pricey so best to buy from store with a good return policy.