It's not that she's the strongest, it's that she's not obviously so weak that they know the outcome of a straight duel beforehand. Some opponents you know how the fight goes before it starts. Like if Superman and my 5yr old nephew had a fist fight. You're assuming that Sejuani is like Superman here, and no one wants to mess with her because they know they'll lose.
I imagine the reality is more like Muhammad Ali Vs Mike Tyson in their primes. Each would probably think they're stronger, and everyone has an opinion, but it's hard to know without it actually happening.
So I imagine the leaders don't wanna risk losing everything over a throw of the dice. For Tryndamere, letting the war run longer is preferable to even a small risk of losing and leaving his people in the Sejuani's brutal hands. For Lissandra, I imagine she's been playing the game too long to find such a risk alluring. You don't live so long by taking unnecessary chances.