>>4428106RGB Bayer filter in a camera typically (it depends of choice of filter dyes) lets IR thru on red and blue pixels and blocks IR on green pixels. That's why result of shooting with IR pass filter is usually all magenta. One can set custom balance on grass and get nearly monochromatic result straight.out of camera or fix it in post. Things that bright in IR but not bright in red tend to have bluish hue and sky tends to have greenish, depending how effective the used IR pass filter is blocking visible light.
Modded camera with blue blocking (yellow) filter has green sky and things of any visible color bright in IR tinted blue soc.
All hue +120 does is rotate color wheel 120 decgrees to swap order of RGB to BGR. Which is easier than manually decompose image to color layers, changing order and recompose and end in same result.
(Hue +-360 would do nothing, -120 or +240 would result RGB -> GBR. Dunno how Photoshop that but I guess its something similar.)
Perhaps a filter can imitatethe look but I do not think any filter can actually make red to green, green to blue and blue to red which is the usual Aerochrome type false color. Which originally was to highlight things like unhealthy vegetation or not-NIR portected camouflage. If one prefers the straight out of camera colors, good for them.