The game is Deep Rock Galactic, a PvE game where you play as a team of dwarves mining resources on an alien planet infested with hostile flora and fauna (namely, a whole lot of bugs).

As for the context of the clip:

• This mission had the “Haunted Cave” modifier, which adds a giant intangible enemy that crawls around and does massive damage AoE attacks
• The game has destructible terrain, either via pickaxe, drills, or explosions
• Sometimes the game can have wonky physics when you intersect with a sliver of terrain strangely, launching you with extreme force

So, after reviving my downed friend here, they tried to mine their way out of the pit they were stuck in, got launched by a terrain geometry bug backward, and then got absolutely destroyed by the Unknown Horror haunting the cave.