I'm not a fan of cops in real life, and typically loathe the TV variety, but Hank is the most likeable character on this show (yes, I realize that's not much of a compliment). So, yeah, probably dead. I doubt very seriously they'd have the guts to put the ending of Falling Down on this.
"The trouble with being a ghost writer or artist is that you must remain anonymous without credit.
If one wants the credit, one has to cease being a ghost and become a leader or innovator." — Bob Kane