You'd also need a LoRaWAN network to hook into.
But most importantly, I doubt you could build a LoRaWAN tracker as compactly as an AirTag. A beacon would use significantly less electricity and therefore require a smaller battery.
Below is one of the smallest LoRaWAN modems on the market, which by itself is marginally bigger than an AirTag. Now add batteries, GPS, antennas, and an SoC to drive the whole thing.
https://www.murata.com/en-eu/news/connectivitymodule/lpwa/20...