Bright red spot on ankle near bone, should i be concerned?

Yes: Bright red skin can indicate cellulitis which is a skin infection. You may also be developing an abscess which is usually deeper. Either way, it is concerning. You should see a podiatrist about it.

Yes: Anytime there is redness near bone you should get it checked to make sure no osteomyelitis.

Yes.: It is possible for the ankle joint itself to get an infection particularly if this redness is associated with warmth and/or pain, this would be an area of concern.

Get it checked: A red spot near a bone may start out as a superficial infection but has the risk of becoming deeper into the joint and/or the bone. Have it checked.