I am new to tx2 platform. Is there a capability of having run linux and bare-metal running concurrently and communnicating with each other?
If you are talking about running a virtual hypervisor which owns CPU cores running Linux/L4T, and one or more other cores running in bare metal, then the answer is “probably not, at least not without a lot of work”. On the other hand, you can add an FPGA which talks over PCIe, which is fairly common. There is also a commercial RT system which can replace L4T: