Tango and Cash
I have questions along those same lines too... what's the protocol for the wingman in this situation? Circle the downed pilot to assist with search and rescue? Or would there be the thought of "oh $h*&, that thing's flying on its own, I'd better keep track of where it's headed"? Doesn't sound like either of those happened based on the media reports so far. Maybe the wingman wasn't in visual range when the ejection happened?
Talk in some reports is that the weather was "bad"/"poor"..maybe this is actually one instance where the METAR might be relevant to members of the Pprune AAIB.