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What the heck is this?

Just saw it a little under an hour ago. It was 7:56pm. For reference, sky is clear, the moon is clearly visible and in the distance you can see a helicopter or plane going in the opposite direction.

I know there was a rocket launch earlier this evening. The ring around it looks like it could be a plume of exhaust but it looks like the light is coming towards me, not trailing the behind, and then all the sudden the light just fades away. If you zoom in (video was taken zoomed out on an iPhone 12 mini camera), it looks like there’s a pair of lights, not just one.

Very weird, uncertain what I just saw.