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Possible insofar as it existed enough to inspire a one-off modern regularized form, but its even more made-up than most — I don’t think you’ll find it anywhere today outside the obsolete Japanese paleography research tool the author was using

What does it say? Did it exist in the wild, or only in vitro at Xu Shen's institute? Most importantly: does it have a code point in the new Unicode 18.0 xiaozhuan which came out last week?

Haven’t dug deeper - I’m getting John Cikoski’s old ‘Lexicon of Classical Chinese” into machine-readable form from PDF; this shows up in a section of the intro where he talks about hapax graphs in the 淮南子, where received text has 惑. (Also mentions received 高 instead of 嵩, but that one was boring.)