As much as exists in the IRL Nicaraguan Canal - you probably see at least some starts at attempts to build one (perhaps moreso than the IRL Nicaragua Canal), but often abandoned because Nicaragua is already there and therefore more convenient.Meaning interest in a Canal there likely remains
This does raise me a few questions - what is the Nicaragua Canal's size limit? Is it larger or smaller than SuezMax, Panamax and NeoPanamax? If it's similar to Panamax this likely necessitates an expansion of the canal around the 21st century like the IRL Panama Canal, and if the Nicaraguan Canal struggles to adapt to the 21st century (as the Panama Canal has even post-expansion) a more modernly built Panama Canal may be able to eclipse it in the 21st century
Plus, depending on how climate change goes, shifting weather patterns could ultimately screw one or both canals' potential.