Ask the original type designer if you are in doubt.
This can be done with a simple set of custom parameters for filters. There are tutorials about editing existing fonts and about custom parameters. And there is a chapter about filters and their parameters in the handbook.
No, it doesn’t. If it did you can then sell the font as your own, which isn’t the case because it is derivative and not permitted by the EULA. You cannot even do this on free fonts, because they also have EULAs that protect that type work similarly.
As Rainer said, as the designer of the font, he may be too good and not require a payment, but in most cases this requires additional pay.