We present the analysis of optical/near-infrared (NIR) data and host galaxy properties of a bright, extremely rapidly evolving transient, AT 2024wpp, which resembles the enigmatic AT 2018cow. AT 2024wpp rose to a peak brightness of $c=-21.9$ mag in 4.3 d and remained above the half-maximum brightness for only 6.7 d. The blackbody fits to the photometry show that the event remained persistently hot ($T\gtrsim 20\, 000$ K) with a rapidly receding photosphere ($v\sim 11\, 500$ km s$^{-1}$), similarly to AT 2018cow albeit with a several times larger photosphere. $JH$ photometry reveals an NIR excess over the thermal emission at $\sim +20$ d, indicating a presence of an additional component. The spectra are consistent with blackbody emission throughout our spectral sequence ending at $+21.9$ d, showing a tentative, very broad emission feature at $\sim 5500$ Å - implying that the optical photosphere is likely within a near-relativistic outflow. Furthermore, reports of strong X-ray and radio emission cement the nature of AT 2024wpp as a likely Cow-like transient. AT 2024wpp is the second event of the class with optical polarimetry. Our $BVRI$ observations obtained from $+6.1$ to $+14.4$ d show a low polarization of $P\lesssim 0.5$ per cent across all bands, similar to AT 2018cow that was consistent with $P\sim 0$ per cent during the same outflow-driven phase. In the absence of evidence for a preferential viewing angle, it is unlikely that both events would have shown low polarization in the case that their photospheres were aspherical. As such, we conclude that the near-relativistic outflows launched in these events are likely highly spherical, but polarimetric observations of further events are crucial to constrain their ejecta geometry and stratification in detail.