Is it thought? Certainly it is according the C and C++ standards, but POSIX adds:
> References to unmapped addresses shall result in a SIGSEGV signal
While time-traveling-UB is a theoretical possibility, practically POSIX compliant compilers won't reorder around potentially trapping operations (they will do the reverse, they might remove a null check if made redundant by a prior potentially trapping dereference) .
A real concern is if a null pointer is dereferenced with a large attacker-controlled offset that can avoid the trap, but that's more of an issue of failing to bound check.