Sounds like you are looking for an instant punishment from the system, which also means that you aren't familiar with how the system really works.
The system punishes people based on consistency x severity. Meaning someone can get punished for 1 game with extreme toxicity or 100 games of mild severity (or something in between).
When a valid report is reviewed, the system returns a toxicity score and that score is accumulated in people's account. If the accumulated toxicity score passes a certain threshold, it will punish them. Of course, people can play clean games and that toxicity score will slowly reduce.
So if you've reported them, it will be part of what will get them punished in the future, assuming they continue with their toxic ways.