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I'm not a huge fan of it, but I believe FFGs Star Wars Imperial Assault handles initiative in a similar manner (not a huge fan of the initiative system you describe, big fan of Imperial Assault).
Imperial Assault is a boardgame and it doesn't use initiative. It's good, but the situation and the effects of the systems are simply not applicable here.
D&D 5e has several initiative alternatives in the DMG as well, but I can't recall if they've got one like this. I know they've got one that has one entire side go before the other though.
I haven't played D&D 5e, but it is in the nature of PnP RPG:s to be mutable and adaptable, with variant rules for practically anything. Again, this isn't applicable here. The narrative interruptions, engagements and tactics of a PnP game doesn't translate - at all - to the CRPG realm.
As for one-side-before-the-other, that's common in certain tactical shooters like XCOM 2, but again, XCOM 2 doesn't use initiative at all and all the assumptions are different - it's a round-based system, not a turn-based (no matter what it says on the tin). Really, your comparisons make no sense in context.