As far as I'm aware, the intended behavior with Victor ultimate is that it will proc first, and then if you die again Cheat Death will proc. This is how it has behaved for me outside this situation. In this situation, however, Cheat Death procced at the same time as I died with my ultimate, putting it on cooldown for no effect.
MatchID: 45957358
Time: 37:35-37:45
MatchID: 45957358
Time: 37:35-37:45