Question: I have seen that android does not allow installation of any apk when screen filters are enabled.Do they cause any security risks?

Answer: 
The problem is with the DRAW OVER APPS permission. Android will not let you change any system level changes or install anything while an app is overlaying your screen. The reasoning being since the app can hide a malicious request and have the button pressed under it. Be very wary of any app that requests this permission and make sure you truly trust the developer.
Check out this link for more details on tapjacking. [XDA Developers - Tapjacking](https://www.xda-developers.com/how-tapjacking-made-a-return-with-android-marshmallow-and-nobody-noticed/)
**TL;DR-**

If it's a "3rd party applications" it could be/More likely than a 1st party or 2nd party apps.

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What's 3rd party apps are:

> 
> Third party apps are those provided by a, hrm, third party. Though the
>  following terms are non-existent, you can visualize this as follows:
>  First party is the one providing the OS (AOSP/Google), second party
>  the manufacturer (adding his own apps).
> 
> 
> Basically, this can be read as: Everything that didn't come
>  pre-installed. This is what the term "third party" normally is used
>  for
> 
> 
> 

Reference: <https://android.stackexchange.com/questions/92248/whats-really-third-party-applications>

Now, I recommend to always look at the app's permissions request before actually downloading them.

Let's have a look at the "Bluelight Filter for Eye Care" app's permissions in the "PlayStore": 

1. Draw over other apps - **Could hide some malicious button hidden.**
2. Have full network access - **Could be harmfull by sending information from your phone.**
3. Run at startup - **Suspicious in some way (reminds me of some rat/keyloggers apps).**
4. Prevent phone from sleeping - **Ok.**
5. Install shortcuts - **Ok.**
6. Retrieve running apps -**Ok.**
7. Receive data from internet - **I guess that's for updates/Ads but could be harmful.**
8. View network connections - **Ok.**
9. Expand/collapse status bar - **Ok.**
10. View Wi-Fi connections -**Ok.**

Conclusion:

Anything in our world is/should be suspicious, even "Facebook" app (There are rumors that they send information to the NSA), but I still you use it.
all I'm trying to say is that you should be careful and check for the permission it requests and if you see something suspicious think again if you really need that and willing to risk your personal information for that.