Rita
According to Flair, Race was so enraged about WWE and Vince McMahon invading the NWA territories that he left an ongoing NWA live event to confront WWE and Hogan. ... Hogan added that Race attempted to set the WWE ring on fire before the show and that Race pulled a gun on him as he was coming out of the bathroom.
lando
If it happened in an indie show and AWA possibly in Japan and I could see it happening if it happened in the WWE possibly before Hogan was a main eventer. I can't see Harley race being able to get away with it with Hogan being a main adventure and a first rate minion
Jim Crockett Promotions Fan
Well Mr. Harley Race was pretty angry at The WWF destroying The Professional Wrestling Promotions that he had invested a lot of the money he had earned during his Professional Wrestling Career. There were a lot of people in The Professional Wrestling Industry who were not happy with The WWF expansion around the world.
Adam
Apparently Yes. The story is listed in the following link
https://www.wrestlinginc.com/news/2015/10/hulk-hogan-talks-harley-race-pulling-out-a-gun-on-him-at-602604/
Grandpa Jack
Wrestlers from the 70s and 80s have some of the best stories but they're also great storytellers. It would be a heck of a story - Race, upset by WWF invading his territory, punches Hogan in the mouth then pulls a gun on him etc. But the details are always weirdly different depending on who tells the story. I don't know what happened and never will but I can always hope it was every bit as crazy as it sounds.