We also kill child processes. No-one's had a problem with that till now. Sometimes a metaphor is just a metaphor.
Which is a worse analogy, because "following" is a choice and doesn't have to be strict, unlike slave (execute commands or get killed).
On my computer I can open a folder twice without closing it. I can't open a physical folder twice without closing.
With a race condition, no one cares if both processes started at the same time. That's not an important part of the analogy.
Even your point about killing doesn't really fit with the metaphor. Historically, whipping would be the most common punishment.
I do agree with your idea that the metaphor has to be clear. Modbus replace master/slave with client/server, which tends to confuse people used to the old analogy. It's not ideal, but neither is referring back to that time we could trade people.
Slavery was really bad, and for that reason shouln't be used as a description.
There are always alternatives, like "leader and follower"