Will Monster Infrequents that appear in the campaign appear in the Shattered Realm?

For example, could I encounter the Pit Master from Act 2 on a random floor in the dungeon and would he drop his MI?

While you could indeed encounter the Pit Master in the Shattered Realm, the loot rules are the same in the Shattered Realm as in the Crucible.

What that means is that monsters don’t drop loot (this would only serve to slow you down as you push against the game mode’s timer) and instead you cash out when you feel you can’t progress any further and claim your rewards in a treasure area.

The chests in that area can contain MIs, just like in the Crucible, but which ones you receive is random.

Thanks a lot for the response. Looking forward to next week!