Q: If the Cadillac converter is bad will it cause the transmission to act up

Hello. A failed catalytic converter will cause symptoms within the engine that can then effect the transmission. Unfortunately the symptoms it causes tend to be related to shifting issues. As far as the jolt you felt, it would only cause that if the engine was attempting to die. Did the jolt you felt come with a drop in RPMs, or any other sign that it was caused by the engine about to stall? If not, you are likely facing two separate issues. It is very hard to tell with limited information, and having the vehicle inspected is your best bet. When was the last time you had the transmission fluid changed? Dirty transmission fluid is the main cause for the jolt and other issues that may be transmission related. Again, inspecting the vehicle is the best way to be sure.