Yes it will - that's basic relativity. From the point of view of the person firing the gun it will look entirely normal - as if it's flying off into the distanc

Yes it will - that's basic relativity. From the point of view of the person firing the gun it will look entirely normal - as if it's flying off into the distance. Only from the point of view of someone on the ground will it appear to just fall. However... a bullet normally travels around 2000 fps, 1363 mph. Even the slowest bullets still travel 700 mph or so. So you wouldn't see it in practice.