Well all timelines need a Point of Divergence, so I suppose the Champion of Hydra does exist in the MCU timeline, but I doubt it's related to the Hive or Maveth because I believe Red Skull said it was a Norse creature in What if...?

I like to believe that HYDRA just sees something with tentacles and instantly falls in love with it

@Mistic-Instinct ”HYDRA sees something with tentacles and instantly falls in love with it.”

I literally did a spit-take! 😂