It happens in all sports, and the better you are, the more likely you are to get it. Not all sports have a specific term for it, but I have some first hand knowledge that helps me understand how Biles feels.
It's just so unfortunate it happened in the Olympics, not in training when she could have taken the time to get over it.
On the other hand, it's brought attention to a phenomenon non-athletes aren't familiar with and might help with understanding in the future. We put a lot of pressure on those who represent us internationally, and understanding that sometimes a mental block can mess up a performance, whether it's for a few seconds or longer, might help us be more forgiving when an athlete apparently messes up.