Yes, I think it might be SQL specific but you can normally do this in any transnational db I have worked with (I am old, I don't use GraphQL or NoSQL dbs very often, if at all).
Basically, it is just a journal of all queries (really ANYTHING going on in the db but for developers it is useful to limit to queries) and typically filtered by database and by keyword (e.g. table or stored procedure name).
You can set up a trace to track long-running queries on a production server (DBA might do this) or on a dev server a developer might use it to capture SQL run from their code (e.g. a complex stored procedure with a lot of input params) so you don't have to try to assemble the SQL using a debugger, for example.
A good example might be "I am doing everything right in code, but the data set is coming back empty" so you profile it and realize the SQL is being called with an empty string and not a null, or whatever. When reviewing the code you thought "it will be a null". That kind of thing.
Never met this term before - IIUC, SQL tracing is MS-specific? If I may ask, in what kind of situations would you use it?