No. A card shown to a player who has already been substituted off does not count towards cards or booking bets, even if it's shown before the match ends. If the card was shown while he was still on the pitch, it counts.
When does a card count?
For a card to count, both of these must be true:
It's shown during the regular 90 minutes, including any injury or stoppage time added by the referee. Cards shown after the match don't count.
It's shown to an active player on the pitch. Cards shown to non-players don't count.
Who counts as a non-player?
Non-players include:
Players who have already been substituted off
Managers and coaching staff
Substitutes and players sitting on the bench
A substituted-off player is treated as a non-player. So even though he took part earlier in the match, and even if the card comes before the final whistle, it isn't counted.