The Wild Companion ability reads as:
You gain the ability to summon a spirit that assumes an animal form: as an action, you can expend a use of your Wild Shape feature to cast the find familiar spell, without material components.
When you cast the spell in this way, the familiar is a fey instead of a beast, and the familiar disappears after a number of hours equal to half your druid level.
Is this the same spell for the purpose of overlapping (duration, material components, casting time and type of creature summoned are all different)? Does it bypass this part of the Find Familiar spell?
You can't have more than one familiar at a time. If you cast this spell while you already have a familiar, you instead cause it to adopt a new form. Choose one of the forms from the above list. Your familiar transforms into the chosen creature.
So does summoning a familiar from the Wild Companion ability cause your non-wild companion familiar to transform into a fey creature for an hour before disappearing or do you (temporarily) get two familiars? Or is it something else?