Cog is equipped to a bot who has a Micro-Capacitor. I use Red Heat to move Cog to another character: Does the Micro-Capacitor trigger first, therefore scrapping and untapping the bot, or does the swap happen first?

Micro-Capacitor must be attached to the character when you use its Tap ability in order to trigger. Unless Micro-Capacitor is attached to Red Heat in your example, Micro-Capacitors ability wont trigger at all.

Source: Wizards of the Coast (2019-06-28)    【Link to Ruling】

Tags: Micro Capacitor