Yes I think Construct could do all of that. Construct can do parallax really easily, a particle system, lots of effects like blur, distortion, vignette, blending, color adjustments, etc. Construct also has a surprisingly good audio system which has 3D positional audio, real-time filtering (low pass, high pass, etc.) and reverb.
It really all just depends on whether you have the skill and time to complete a project like Hollow Knight.