This file is indexed.

/usr/share/bash-completion/completions/update-initramfs is in initramfs-tools 0.130ubuntu3.6.

This file is owned by root:root, with mode 0o644.

The actual contents of the file can be viewed below.

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# update-initramfs(8) completion

_update_initramfs()
{
	local cur prev valid_options

	_get_comp_words_by_ref cur prev

	# The only option that takes an argument is -k
	if [[ "$prev" == '-k' ]]; then
		# Complete with kernel versions
		_kernel_versions
		COMPREPLY=( $( compgen -W '${COMPREPLY[@]} all' -- "$cur" ) )
		return;
	fi

	# Complete with available options (obtained from -h)
	valid_options=$( update-initramfs -h 2>&1 | \
		sed -e '/^ -/!d;s/^ \(-\w\+\).*/\1/' )
	COMPREPLY=( $( compgen -W "$valid_options" -- $cur ) )
}

complete -F _update_initramfs update-initramfs