Yep, it is. The development of the M60 was derived from the MG42 and FG42 as the T-44. It also integrated the Johnson machinegun design from the M1941.
Nope, it may have inspired it but they are completely different.
The only thing the FG42 and MG42 have in common is 1942 and Germany.
M60 Bolt
show me the gas tube on the mg42