Looks like GTA has a new mode that borrows some battle royale concepts. Team play, playing on a platform above the city. The red sections will disappear based on a timer. If you die, you get placed in a red sector and have to get out before the timer hits zero or you drop to a permanent death.
What I like is the timer is based on where the timer is at for the red zones when you’re killed. So if you get killed right before a segment goes, you’re screwed.