I'll explain something about quantum theory and interpretations of quantum theory before coming to your question.
In classical physics the evolution of a measurable quantity of a system is described by a variable that is also the value you get if you measure that quantity. For example, the $x$ position will be described by the variable $x(t)$ and when you measure the $x$ position you get the value $x(t)$.
In many quantum experiments the outcome depends on what is happening to all of the possible values of the measured quantity. This is called quantum interference. For an example see Section 2 of
https://arxiv.org/abs/math/9911150
According to the equations of motion of quantum theory when information is copied out of a quantum system interference is suppressed: this is called decoherence
https://arxiv.org/abs/1911.06282
Any system you see in everyday life has information copied out of it on scales of space and time a lot smaller than those over which they change significantly and on those scales interference is suppressed very effectively. For electrons in the atoms of those systems interference isn't suppressed. The extent of decoherence changes continuously with the strength of information copying interactions it isn't all or nothing. Decoherence doesn't eliminate the other possible values for a system, it just suppresses interference between them. As a result for systems on the scales of everyday life using the same kinds of arguments we would use for any other kind of theory, we find that quantum theory implies the existence of multiple non-interfering versions of those systems that obey classical physics to a good but not perfect approximation:
https://arxiv.org/abs/1111.2189
https://arxiv.org/abs/quant-ph/0104033
This is often called the many worlds interpretation (MWI) but it is just an implication of treating quantum theory as one would treat any other physical theory.
Many people don't like the MWI.
The standard textbook response to this issue is just to say that you should do calculations and make predictions without caring about what is happening in reality. This isn't viable for either theorists or experimentalists because to understand how to set up and interpret an experiment properly you have to understand what is happening in reality in that experiment according to the theory you're testing.
Other people have proposed modifications to quantum theory such as saying that some interaction eliminates all but one of the possible values, e.g. - spontaneous collapse theories
https://arxiv.org/abs/2310.14969
One theory that hasn't been fleshed out much is the idea that consciousness has something to do with collapse, e.g. - this paper by Penrose and Hameroff:
https://web.archive.org/web/20170813024119id_/http://www.quantumconsciousness.org/sites/default/files/Hameroff%20Penrose%20-%20Consciousness%20in%20the%20Universe-A%20Review%20of%20the%20Orch%20OR%20Theory%20-%202013%20-%20Physics%20of%20Life%20Reviews.pdf
I say this hasn't been fleshed out much because there is no equation of motion for the proposed theory in the paper above. Without such an equation this theory is difficult to test experimentally.
Collapse theories and other alternatives to unmodified quantum theory don't currently reproduce the predictions of relativistic quantum theories, which are the vast bulk of actual predictions of quantum theory:
https://arxiv.org/abs/2205.00568
One way that the word realism is used is to talk about whether quantum theory or any other theory actually describes how the world works.
Another way the word realism is used and local realism in particular is related to Bell's theorem. Bell's theorem constrains the correlations that can arise between two systems obeying the following constraints. (1) The evolution of the system is described by stochastic variables: that is classical variables whose values are chosen with some probability out of a particular set of options. (2) These variables evolve locally: one system can only change another by interactions not by influences magically changing a system from far away. (3) The measured system and measuring device don't conspire with one another to choose measurements and outcomes in advance. Quantum theory produces larger correlations than those allowed by Bell but those correlations can't be used to transmit information faster than light.
Local realism means any theory that satisfies (1) and (2). There are some theories that satisfy (1) and (2) but not (3). These theories are described as superdeterminism:
https://arxiv.org/abs/2010.01324
Superdeterminism hasn't been fleshed out much but if it was it might be a local realistic alternative to quantum theory. Theories like spontaneous collapse satisfy (1) and (3) but not (2).
Quantum theory without modifications, the MWI, isn't realistic since quantum theory describes the evolution of quantities in terms of observables not stochastic variables. The equations of motion for quantum theory that have survived testing the most are local. If you wanted to understand this more deeply you could read a book on quantum field theory such as "Quantum field theory for the gifted amateur" by Lancaster and Blundell or "The conceptual framework of quantum field theory" by Anthony Duncan. There is an explanation of how Bell correlations arise in the MWI. Information that produces the correlations is carried in decoherent systems in a form that can't be accessed without looking at correlations with other systems: locally inaccessible information:
https://arxiv.org/abs/quant-ph/9906007
https://arxiv.org/abs/1109.6223
https://arxiv.org/abs/2304.14959