Let's assume you're talking about CPython, because Python is a language, not an implementation.
Python explicitly runs as a single thread
No it doesn't. CPython supports threading.
and uses time slicing to simulate multi threading.
No it doesn't. CPython uses OS threads, it does not do its own time slicing.
What you're thinking about is the GIL, which ensures that only one (real) thread is running *inside the interpreter* at any one point. You can spawn multiple CPython threads and they will be *real* threads scheduled by the OS. However, they will mutex each other out of running the interpreter at once in multiple threads. You can make blocking OS calls, or calls out to C code that is thread-safe, and they will run concurrently on multiple cores. No time-slicing.
CPython has perfectly real threads. It just isn't suitable for concurrent computation in pure Python code due to the GIL.
The is also no such thing as a real time processor
There is, however, such a thing as a platform unsuitable for real-time processing. And commodity x86 platforms have been unsuitable for real-time processing ever since BIOSes decided to schedule code behind your back in SMM code without the OS being able to do anything about it. You need a very special BIOS to make sure this doesn't happen.