This shield image is a piece of art that originates in the PASS Time game mode in Team Fortress 2, a multiplayer first-person shooter game developed by Valve Software. In the mid-2010s Valve partnered with a smaller developer, Bad Robot Games, to produce this custom game mode called PASS Time; it's a combination of soccer, hockey, and basketball. At least, that's how the game describes it.

Each team, BLU and RED, has a shield/insignia representing them in PASS Time to help you better identify players around you while carrying the ball. This piece is the BLU team's insignia. It was published in the mid to late 2010s and theoretically intended to imitate a 70s style like the rest of the game, although I think they dropped that connotation somewhat for this game mode.

While searching on my own, the closest I got was WBP Nel Heavy by Studio Jasper Nijssen. However, notably missing in WBP Nel are the sharp interior corners on the S and the (bar? arm?) of the G. Those two features are strong identifiers of the mystery font, as well as the sharpened right corner of the U and the fully inserted leg of the R.

I found it as He's Dead Jim by James Shields, but I cannot find any license information.

MissNobody, you're a god. Thank you so much!