Yes. Obviously, one will eventually always be "bottlenecked" by either the processor or cpu. Which will be the bottleneck will depend on the game and settings. Unfortunately, to be blunt, your cpu is simply not a very good cpu for gaming. It is a "dual core" AMD apu, which really means two modules with some shared resources, so not even a true dual core, and it also lacks ipc compared to intel processors. The RX-460 is relatively much more competent than the cpu, so in most cases, you will be limited by the cpu. I think you will have a hard time getting a good gaming experience with that cpu with any recent cpu demanding games. Games from a few years ago will probably play fine.
Edit: Since you already have a decent dgpu, you could improve gaming *a lot* by upgrading to a quad core Athlon x4 cpu if it will fit your motherboard. Something like the Athlon x4 860k (70.00 on new egg), would be a huge improvement. Honestly, those dual module apus like you have are only suitable for light gaming.