Yes, this is the plane usually used by true POTUS as AF1…out flying around doing non-AF1 stuff.
Could just be a maintenance flight. Not unusual for these or any birds to go out for hops to check stuff.
If so, and speaking of true POTUS, I seriously doubt he'd be using this bird at the moment. There are much better ways to hide a human in an aerial shell game and the military are old pros at it.