So as I recently turned into a mer fan I started to read up on the background of bosmer and I read something called the wild hunt where bosmer turn into beasts and pretty much eat everyone.

Here is the thing this whole ritutal seems hircine related and the fact that hircine also has something called the wild hunt. Are they separate or are they the same?

No clear answer. Nothing explicitly links the Bosmeri Wild Hunt with Hircine's Wild Hunt, except the name and general premise of shape-changing beasts. There's a few theories around, but nothing definitive.