It is indeed supposed to be Xena from Xena: Warrior Princess which Sam Raimi developed. It is just an out of universe Easter egg. I can't confirm it since I don't have access to it but in the audio commentary for Doctor Strange in the Multiverse of Madness Raimi and Palmer talk about the statue.
Raimi: That was patterned after Xena. And I think it was your idea. The great Lucy Lawless. This scene pays tribute to female heroes and villains.
Quote taken from this tweet
I can't find the rest of the quote but this article by startefacts confirms that this is just meant as an Easter egg and nothing more.
Yes, the iconic Xena, played by Lucy Lawless, did make an appearance in an MCU movie! Years ago Sam Raimi produced the series for 6 seasons, and he certainly looks back fondly on his time working on the fantasy saga, sneaking this important reference into a huge Disney blockbuster. However, this does not mean that Xena is now an MCU canon and a member of the Multiverse's Illuminati – Raimi confirmed that this is just a fun Easter egg with no narrative subtext.