Since so far in 1997 was relased the X-Wings vs T-Fighter of Lucas Arts.
I am wondering if exists something like that but related Wing Commander's world.

According to me Wing Commander has a better graphic and game play.
But the Wing Commander 5 had only single player.

I don't know if there ever was WC title dedicated for multiplayer only, but I think Armada had MP mode in it.

From new games Star Citizen from creators of WG:
https://robertsspaceindustries.com/

Wing Commander Armada had multiplayer in it. You could play the space battles that would happen on the strategic map.

Maybe some fan projects had multiplayer in it ? Maybe Wing Commander Saga ? https://wcsaga.com/index.php

Wing Commander: Arena, but we don't talk about that one.