Well i can say as person that participated in UFC3 cup back in 2019, and even reached the quarterfinals - that is possible. If there is a desire and willingness on the one hand from the publisher, and demand from the audience on the other. There are still some organizational issues to be resolved, as tournaments for individual players are more expensive to run than those for teams. It is also necessary to decide on the format of the tournament (offline, online, or mixed).
But I can assure you that, as a participant, I had a lot of fun taking part in the offline tournament. Had a great time thou