Technically no.
Titanium Shield ( reflect damage) and Perfect Riposte ( counterattack damage taken) are separate effects.
In practice, counterattack is ignored since counterattack is damage taken and Titanium Shield prevents all damage.
Titanium Shield:
"Reflect status effects and 100% damage back to attacker "
So heroes take zero damage.
Perfect Riposte:
“Counterattack with X% damage received”
zero damage taken means zero damage counterattacked.