NTSB preliminary report is available.
The P-63 was the third aircraft in the fighter formation
The B-17 was lead ship in a 5 bomber formation
Not much new information, but this rather sparse paragraph might give an inkling as to what was going on in the air just prior to the accident:
According to the recorded audio for the airshow radio transmissions and Automatic
Dependent Surveillance-Broadcast (ADS-B) data, the air boss directed both formations to
maneuver southwest of the runway before returning to the flying display area, which was the
designated performance area. He directed the fighter formation to transition to a trail
formation, fly in front of the bomber formation, and proceed near the 500 ft show line. The
bombers were directed to fly down the 1,000 ft show line. The 500 ft show line and 1,000 ft
show line were 500 ft and 1,000 ft respectively from the airshow viewing line behind which the
audience viewed the airshow.
There were no altitude deconflictions briefed before the flight or while the airplanes were in the
air.
Sounds like the air boss instructed the fighters to break out of their formation into trail and make a pass 500ft from the crowd. To do this, at least from what the ADS-B data seems to show, meant the fighters would have to cross in front of the bomber parade that was going to pass 1000ft from the crowd line. The fighters would be out in front and 500ft to the right of the bombers’ paths.
In that case, the video evidence seems to show the P-63 was in a turn to do just that, come out on a track to right of the bomber parade as instructed.
Disappointing they don’t give the altitudes briefed, but I suspect “no altitude deconflictions briefed” is doing a lot of work here.