You could call Rudra/Shiva as modern versions of that motif. But calling the figure in Pashupati seal as depecting a Hindu deity is probably not correct. IVC was pre-vedic after all. No doubt later cultures adopted IVC deities into their own pantheon. But IVC religion was likely very far from what we recognize as Hinduism. And probably closer to religions in Mesopotamia at the time. Egypt does seem further culturally than Mesopotamia to me though. So I find the Egyptian connection a bit tenuous as well.