In almost all cases, Wine should viewporter or use fullscreen-shell to set custom resolutions for specific programs, the only reason you would need to allow wine to have access to an xrandr-like API is if you wanted to run your monitor configuration tool from windows, which I strongly doubt people are wanting to do that. If you are using GNOME/KDE, the GNOME/KDE control panel is always going to be the most reliable way to configure that.
Yes you would need to track upstream and keep up with their unstable APIs in order to write such a library that but that's no different than if you asked upstream to do it, they would just be doing that in their tree. (In some cases this is what they do anyway with the xdg-desktop-portal) In any case you would need to be more specific about what it is you want because just saying "implement everything from X11 exactly the way X11 does it" is not useful, that's never going to happen, so let's focus on what actually it is that is needed.