It is termed a salute because the upward movement of the hand acts as an unintentional gesture.
[1] The habit of using the hand to wipe the nose is observed more often in children but is common in adults as well.
[4] In people who are experiencing seizures, nose wiping has been observed as a semi-voluntary action.
This is especially beneficial if the air passages are swollen and the nostrils are itchy due to irritations such as allergic rhinitis.
[6] The mucus that is wiped onto the hand will most likely carry bacteria and other germs which could then in turn be passed along to other people.