It could be a factory defect.
The recess for the hammer nose bushing is cut with a reamer through the barrel hole in the frame before the barrel is installed.
Perhaps it was Monday morning, and the reamer guy ran it in till the outside stop or a chip on the reamer marked the recoil shield.
That would be my best guess.
There is simply nothing going on at the outside edge of the cartridge rim that would cause that. Not leaking back around the case, not a split case, not a blown primer, nothing.
If the rim or case itself split or cracked, you could possibly get a carbon stain right at the split, but not halfway around the rim.
However, I do not believe a single case failure could possibly damage a recoil shield to that extent on a stainless steel revolver.
I also do not believe if 200 cases failed and gas cut the recoil shield, they would all fail only at 11:00 to 1:00 O'Clock in the chamber.
If a primer leaked, you would get etching on the HN bushing, not at the outside edge of the rim.
So, I think it is a factory defect that has been there since day one.
The only other possible explanation is, it is normal for powder residue to foul the recoil shield there.
Perhaps due to a odd set of circumstances involving no cleaning, humidity, etc, the recoil shield got some corrosion under the powder fouling.
However, that also seems far less likely then a Monday morning reamer slip-up when they made it.
rc