Certainly, it could be a more polite request to say
'If you will/would wait here,…’
if you’re a receptionist who needs to left a customer for some time to arrange something with other staff.
But wouldn’t it be ‘extra-polite’ (= sarcastic) if used in informal ‘peer’ communication? For example, among colleagues.
(Just to note: it’s a usual and general problem for foreigners to be polite ‘adequately’ – not too much, not inadvertently rude. Just sufficiently.)