I don’t think it is real. The bullet has not cleared the muzzel yet there is bullet blow by of the gas. The bullets that I have seen in slow motion photos have not been red hot as the on in the pictue. I’m curious to see if this is wrong or right.
If you see really high quality slow stuff there is a bit of air displacement in front of the bullet as it pushes that little bit out of the barrel. Everything but the “glow” at the base seems pretty legit.
I am thinkin its real. Notice the guide rod starting to protrude indicating the slide is just starting to retract/cycle. I also agree that the bullet is not glowing but instead that is the start of the muzzle blast just beginning to clear the barrel.