It's a question I've been asking myself.
X-Men '97 mentions the "Absolute Points" and even has a Uatu cameo;
But X-Men 1992 already had its own Uatu, so I think it can't be the same multiverse;
But in Disney+ X-Men '97 it was added in the Multiverse Saga section;
But it's not in the timeline section;
But Your Friendly Neighborhood Spider-Man is part of the MCU multiverse and was also not included;
YFNSP also has a Uatu cameo, which makes me think this is intentional to give a "it's all connected" feel.
X-Men '97 Uatu:
YFNSP Uatu: