Compare it to 4:3. It's there. It's a minor thing, though.
KotOR 1's HUD is static. It stays the same size no matter what resolution you're using. KotOR 2's, on the other hand, is dynamic, and grows with the resolution, but doesn't take widescreen aspect ratios into account while doing so.
Now, I don't know why Obsidian thought that creating a dynamic HUD was a worthwhile endeavor, given their extremely tight development schedule. One would think that the time would've been better spent on, I don't know, actually completing the game.