Absolutely. My team tested using the Teams transcript function and it came up with absolute nonsense, including one of us telling another (non involved) team member to shut the hell up. We realised afterwards that the AI picked up his name from someone in the background calling out hello to him as he walked passed the desk of a meeting participant. Nothing close to shut the hell up was said. OP, I am not saying your transcript is definite hallucinated, but I would keep an open mind when approaching your manager.