The iron is abnormally high, yes. I would suggest pulling a sample after a few thousand miles and sending it in for analysis -- could be something like particle streaking which causes false positives.
As others have said, it's one report in isolation and is of limited use.
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Now: 2017 Corvette Grand Sport, 2021 AMG C63 S sedan
Past: 2011.5 M3 sedan ZCP
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