Hello,
Running the core/bus at 50 Mhz (K20D50) with 8Mhz crystal (TWR-FRDM) the maximum UART0, for example, baudrate is 3125000 bauds.
But that is not a practical value for RS485. You need to check the maximum speed allowed in tour RS-485 transceiver and you will need to check the capacitance in the line based on the length of the wires, number of devices connected, etc.
I think you will not have a limitation due to the K20, but due to the RS4-85 bus itself, transceiver, length of the bus and number of devices connected.
Luis