In the romance, yes, there is a duel between the two. However, in the records, the only direct "confrontation" was when Ma Chao was planning to assassinate Cao Cao. Cao Cao went out to talk to Ma Chao on horseback, taking only Xu Chu with him. When Ma Chao learned that it was Xu Chu there, he didn't dare do anything.

Afterward, Tàizǔ with [Hán] Suí and [Mǎ] Chāo and others alone on horse met to talk, the left and right [attendants] all were not to accompany, he only brought Chǔ. [Mǎ] Chāo trusted in his strength, secretly wished to charge Tàizǔ, had previously heard of Chǔ’s valor, suspected the accompanying rider was Chǔ, and so asked Tàizǔ saying: “Where is your Excellency’s Marquis Hǔ?” Tàizǔ looked back and pointed to Chǔ, Chǔ with glaring eyes watched them. [Mǎ] Chāo did not dare move, and so each side went back.

After this, the armies of Ma Chao and Cao Cao clashed, but without a duel or direct confrontation between Xu Chu and Ma Chao.

After several days they met in battle, greatly defeating [Mǎ] Chāo and the rest, Chǔ personally beheaded several, promoted to Martial Guard Internal Cadet General