Wild, I've never even heard of this. So it looks like the comic came after The Watchmen, so maybe Maxx was somewhat inspired by Rorschach, but the movie's character may very well have been inspired by the voiceover of Maxx.
Also, the art in this is really reminding me of the Goblins comic. I bet this was an inspiration!
I enjoyed the show as a kid and only found out about the comic later as an adult. It’s probably why the show sticks with me and I don’t remember much about the comic.