She is independent and Guardian diety of Śākta-s
This confusion has arised because of as usual hobby of Adīkṣita Vaiṣṇava-s. Even after that, most of the references Vaiśṇavas have incorporated are of 5th Mātṛkā Vārāhī.
this Mātṛkā is also known as Unmatta Bhairavī or Laghu Vārāhī, because she has a small Mantra which is given to a Śrīvidyōpāsaka. I don't know which Vaiśṇava Sampradaya initiates in Vārāhī mantra :D.
I hope they will surely get the Vārāhī Krama in order to worship an Ūgra diety like Vārāhī.
By default, Vārāhī means ‘Māhāvārahī’, She with Bhagwati Śyāmalā are swarūpa of Śrīvidyā.
She lives in her Yantra called Kirichakra, which is north east of Lalitāmbā’s house at Maṇidweepa.
चिन्तामणिगृहेन्द्रस्य रुद्रभागेम्बुजाटवौ ॥
वल्लभो दण्डनाथायाः किरिचक्रे महारथः ।
She is mostly called by name Daṇḍanāthā in Lalitopākhyana.
श्रीकिरिरथमध्यस्थां पोत्रिमुखीं चिद्घनैकसद्रूपाम् ।
हलमुसलायुधहस्तां नौमि श्रीदण्डनायिकामम्बाम् ॥
She guards Lalitā Mahā Tripurasundarī and her Devotee(Śākta-s)
Those who are against Tripurasundari and her devotees, she destroys them and this is clearly mentioned in Lalitopākhyanam:-
ललिताद्रोहिणां श्यामाद्रोहिणां स्वामिनीद्रुहाम् ॥
रक्तस्रोतोभिरुत्कूलैः पूरयन्त्यः कपालकम् ।
निजभक्तद्रोहकृता मन्त्रमालाविभूषणाः ॥
She filled skulls by means of overflowing currents of blood of those who plotted against Lalitā and Śyāmā They wore the intestines of those who hurt and assailed their devotees.
Pañcāstra Bāṇa respectively represents:-
क्षोभणं द्रावणं देवी तथाकर्षणसंज्ञकम् ।
वश्योन्मादौ क्रमेणैव नामानि परमेश्वरि ॥
Confusion(Kṣobhaṇa), Tormentating(Drāvaṇa), Attracting(Ākarṣaṇa), Controlling(Vaśikaraṇa), Maddening(Unmādana), these are the names of 5 arrows respectively.
So, Mahāvārahi represents culmination of all these Kriyā-s.
She holds the position of a Father. Bhavanopaniṣad:-
वारही पितृदेवता कुरुकुल्ला बलिदेवता माता
She is Lalitambā’s Pariwāra Devatā, She sits on the right side of Lalitāmbā
ललिता श्रीमहादेवी नवाऽऽवरणशक्तिभिः |
तस्याः पार्श्वद्वये मन्त्रनाथा दण्डधरास्थिता ।
She is Senāpati of all Śaktī-s while Lalitāmbā is Queen, without Vārāhī’s permission no one can meet Devī.
अविज्ञाप्य प्रविष्टोऽसि चाऽस्मत्प्रमुखवीक्षिताम् ।
आज्ञां विना दण्डराज्ञ्याः प्रविष्टो वाहिनीमिमाम् ॥
This ia the reason why in her Names revealed by Hayagreeva, she is called Ājñā Cakreśwarī because Lalitā resides at Sahasrahāra Cakra and without getting checked at Ājñā Cakra we can't go to Sahasrahāraṃ.
Some other references, In Mooka Pañcaśati:-
ताडित रिपुपरिपीडन भयहरणनिपुण हलमुसला ।
क्रोडपति भीषणमुखी क्रीडसि जगति त्वमेव कामाक्षि ||
In Vārāhī Nigrahāṣṭaka we find many references of her being Sadāśiva Vallabhā
विश्वाधीश्वरवल्लभे विजयसे या त्वं नियन्त्र्यात्मिका
ये त्वां रक्तकपालिनीं हरवरारोहे वराहाननां
तेषां मा कुरु शङ्करप्रियतमे देहान्तरावस्थितिम् ॥
She is also Unamatta Bhairavī, as Śakti of Vārāha.
उद्धत्रीक्ष्मां जलनिदिमग्नां दंष्ट्राग्रलग्नभूगोलाम् ।
भक्तनतिमोदमानां उन्मत्ताकार भैरवीं वन्दे ॥
Śrī Durvāsā Bhaṭṭāraka also says:-
जितरम्भोरुयुगलां रिपुसंहारताण्डवीम् ।
रुद्रशक्तिं परां व्यक्तामीश्वरीं परदेवताम् ॥
Anyways, I believe more in knowledge and not in information, and knowledge only comes practically when you worship Vārāhī.
Śrī Mātre Namaḥ 🌺