The Terminal application gives you 3 "profile" options - Powershell, Windows Console Host, and Azure Cloud Shell. But when running them within the Terminal window like that, I don't think you can turn off line wrapping for any of them.

But like the Command Prompt, you can still start up a legacy Powershell window too, which lets you increase the screen buffer width to avoid line wrapping.

Other than that aspect, I'm not clear yet on the difference between running the legacy versions, versus running them from the Terminal app.