yes, it has the capability to track a bullet if the bullet is reflective and produces a light spot that can be followed, but it is not optimal for that task. millimeter radar can track metal bullets in real time for counter shot retaliation. Most militaries have these in service now. What is hard is to shoot them down in real time.
May be a solution, fast cams tracker will be a solution for your questions. With fastcams analyze programs you can see bullet but the solution not real time.