A monitors horizontal and vertical axis are determined as if it were horizontally mounted just like a PC, a TV, or anything mounted horiztally.
Vertical axis is the shorter length side of the monitor.
Horizontal axis is the longer length side.
Whether you mount it sideways (vertically) or not, this doesn't change the axis.
So in your case turn your head sideways and look at it.

Now.......
Since the picture is squished inward from the left and inward from the right creating the line in the middle, it is squished along the "horizontal axis". (creating a vertical line)
You have a horizontal failure.