It can happen with almost any caliber and type bullet unless using frangible. Rounds will richocet and can come back. How far depends on the energy and deformation of the tip normally.
I took a 45 round back in the chest years ago testing bullet resistant wood/kevlar/fiberglass door panels at 10 yards, so not just 50 cals and 750 grain slugs. I was knocked off my feet and big bruise.:mad: that s--t hurt!
We just had a Marine hit in the back with a bullet fragment from an adjoining range. We think the bullet originally hit a metal target frame, fragmented and a small fragment went at least a couple hundred hards right at more than 150 degrees. Military FMJ in many cases are nothing more than bullets with the copper jacket on backwards with the open end at the bottom. Most AP rounds have tungsten penetrators inside and they will not deform much.
Close proximity (compared to bullet KE/velocity) to steel targets is always an unknown and risk factor, so duck!
PA legislature sponsored an interesting study in '07 that showed the new shotgun slugs and muzzleloading bullets go as far on a ricochet as a 30'06 150 gr SP. Tip deformation and angle of impact with the ground were the key factors. Hard tips and impact angles less than 10 degrees, will give you more and longer ricochets with any type bullet.