If it's your PayPal Master Card, PayPal may or may not do a hard enquiry. On the other hand, if your credit score is over 750, you have an excellent payment history with yoru Master card, and you have a good financial statement, PayPal would likely automatically raiise your credit limit as needed. If all is well with yoru finances and creditworthiness there is no need to be concerned about a hard credit enquiry.
The only way to get an answer about the limit is to ask PayPal Master Card for the increase.
