Is it possible to be manic/delusional but know it’s delusions?

Lately I’ve been having delusions (like paranoia of terrible things happening with no cause), like I will think my toddlers face is turning blue and go into a panic inside that she’s choking, but I know it’s not reality and am able to fight it but I still have that sinking feeling like it’s real. Even though I know it’s not. Does that make sense? Is it possible to recognize your delusions are happening?