The way Nystul's (or is it Arcanist's?) Magic Aura works, is that it hides the magical aura produced by the object or effect. The interactions between the Magic Aura spell and Identify had been asked before and it seems that Identify could show the caster the false aura. But would Detect Magic detect the false aura or would it not detect anything if the Magic Aura was hiding all magical effects?