For the circuit as described, the rise time is: "depends on line length and PCB loss".
If ideal materials are used, then it's the same as at the source, minus the meager 5pF || 50 ohm = 250ps time constant.
LVC isn't quite that fast, so we can ignore higher order structure.
In reality, 5pF is part pin and bondwire capacitance, which have inductance -- they are themselves transmission lines. Only once the signal enters the die itself, is it more of an RC transmission line regime. A QFN can have pin bandwidth to 5GHz or more!
Also, assuming ground impedance is zero, which isn't the case, but a ground plane, and supplies bypassed to it at the supply pin(s), and ground vias very close to the pins, will do an okay job at that.
Oh, also, it depends on the TL type: microstrip is dispersive (even without a lossy substrate -- the wave travelling in air gets there first), whereas stripline is not.
PCI-e drivers for example are designed to deliver overshoot (spiky edges), so the receiver gets a sharper waveform despite everything.
Tim