I set up a PWM output to generate a 60Hz (16667us) pulse at 1% duty cycle. I looped it back to a high speed timer operating in Free Run mode with a 50000us timeout, and then applied an Interval scale to RPM. Then I tweaked the interval to 16666us, 16667us, and 16668us to show how that affected the input. The converted input frequency is shown in the trend view. It is moving a maximum of 1us. You can't see it, but it is updating at 60Hz.
I would expect the jitter to be a bit more than this, depending on the stability of the shaft input, but what I'm showing you has *zero* filter. A little filter will take out that jitter.