In your realistic game, the answer is: No, you cannot predict where the string will break. It solely depends on where the manufacturing weaknesses are located. This assumes that "instantaneous" is slow compared to the speed of sound in the string material, and that the string is light compared to the applied forces. In this case, there is no such thing as "unequal tensile forces", the actual force with which the string tugs on each players hand are equal. The lucky player wins.
Now, let's relax the "light compared to the applied forces", i.e. assume that the mass of the string is relevant. Something like heavy chain links bound together with pieces of flimsy string. In this case, the unequal forces mean that you have a net force that acts to accelerate the chain. Now, each link is accelerated by the force difference between the two strings that link to it. So, as you go from the end with the lower force towards the high force end, tension of the chain rises. As such, the chain is likely to break at the side with the stronger player. The weaker player wins.
Not satisfied yet? Let's also relax the "slow compared to the speed of sound" condition: Assume that the "instantaneous" is so fast that each player starts a tension wave at their end of the string. This tension wave travels towards the other end of the string until it hit meets the other tension wave. Now, each player has put only the amount of tension on their end of the string that matches their own force. However, when the two tension waves meet, the string is suddenly tensioned with the sum of these two forces. If the string is going to break at all, this is where. The location of this point only depends on the timing of the two players, as the speed of the tension waves depend only on the speed of sound in the string material. So, if one player is slightly late with applying their force, their wave does not have the same time to travel down the string, and thus the string will break closer to them. In this case, the quicker player wins.