I did an FS related group project in my final year (front and rear wings) and I feel it didn't really help/make me stand out. There are many, many students involved in FS these days, and the vast majority of grads will have some form of interesting project work to talk about.
Employers are more interested in work experience, so direct experience in a role will trump any kind of extracurricular activity or course choice. Also getting an "in" with a company in the form of knowing someone there and perhaps getting a referral of some kind will help more than what you've actually done at uni.
You may also want to leave a bit of breathing room at the end of your course to be able to focus and apply to jobs. A big FS project can involve hundreds of hours work over a semester so something else to consider.