It’s possible but if so then I suspect there is/was an issue with the setup of the RC receiver’s failsafe. So for example, if on loss of RC, the receiver (on the drone) changed the flight mode to stabilize and then there was a delay and then it pulled the throttle to a very low value (below FS_THR_VALUE) then this could happen. This seems unlikely though because the vehicle appears to be in Auto mode still.
It is also possible though that the message shown is because the vehicle had already disarmed (perhaps the crash check triggered) and then the RC receiver was pulled from the autopilot.
These are just two guesses but of course if we can get the onboard log then it will be more clear. A telemetry log may also have some information but the update rate is much lower.