Mike, in "Gloves Off" (Better Call Saul S2E4), represents himself as a random retiree -- but if only from the beating he took, not to mention Hector apparently finding out that Mike was an ex-cop, Hector must have wondered whether the event was purely accidental or planned.
Hector must have in fact strongly suspected that something was up and Mike's subsequent extremely hard-edged negotiating would have really made Hector suspicious -- Mike is more than even an normal retired cop.
Hector then would have begun to suspect Nacho for the same reasons he would have suspected him had Tuco been shot and this would have completely ruined Mike's plan.
I have watched the entire season but I can't recall Hector even discussing the incident with, let alone accusing Nacho of being behind it.
As I replied to an answerer: Mike grabbing Tuco and asking, Is that all you got? is very counter to the retiree he originally represented himself as.
Tuco telling his uncle, This guy apparently ran into my car by accident, wanted to pay with insurance but then grabs me even as I am slugging him as the cops show up at the perfect time.
Hector has to conclude Mike is not an ordinary old man and the "accident" was almost certainly no accident.
I further add that Hector, as the head of a highly illegal enterprise that generates 100s of millions per annum would be more paranoid that a normal businessman in a competitive but legit business and normal CEOs worry all the time.
It is therefore to me extremely unlikely that Hector, even if never told all the details of the events that put Tuco in jail (and I doubt Tuco did not explain everything -- Lalo has shown himself to be a serious questioner, why wouldn't Hector, his mentor not also be?) would have, upon discovering that Mike is an ex-cop simply shrugged and said to himself, wow, my nephew got into a scrape with an ex-cop, what a coincidence.
Frankly, I think the writers either had Mike making a big miscalculation -- he was very concerned about all the ramifications while discussing things with Nacho but then got very sloppy when actually dealing with Tuco or the writers simply made a mistake in having Mike, so concerned about anything that would endanger him and by extension his family, do something like Nacho asked in broad daylight.
At least for Mike, shooting Tuco from a distance would have been safest but Mike's weakness is clearly that he is at heart someone who is concerned about others, Nacho in this case. Because he could have just taken the 50k, killed Tuco (and Mike will kill far less bad people, like Werner Z. for money essentially) and let Nacho worry about the consequences.