A soloist, as the dictionary tells you, is someone who performs a solo. Just as a novelist is someone who writes novels, not someone who is novel. Cambridge explains that the suffix -ist primarily denotes "one that performs a (specified) action".
The most common term for someone who performs solo is a solo artist.
I did a quick bit of research and there are a few, rare examples of 'solo' musicians being called soloists, but I would consider them to be outliers. For example, Smithsonian Music referred to Louis Armstrong as a soloist, and while he was known as a 'solo artist' who sang and played trumpet, he never or rarely performed without a band, and his trumpet playing was usually "a solo". If this is an acceptable second usage of the word, it seems rare, and debatable as to wether it still doesn't retain the dictionary definition.