You can do this using \tcboxmath from the theorems library of tcolorbox:
\documentclass{article}
\usepackage{tcolorbox}
\tcbuselibrary{theorems}
\newcommand*{\mywbox}{%
\tcboxmath[colback=white, colframe=black, size=fbox, arc=3pt, boxrule=0.8pt]%
}
\begin{document}
This \mywbox{3x} is in line math.
This
[ y = \mywbox{-5x} - 5 + 6 ]
is not in line math.
\end{document}

You may want to abstract things a little bit using a style too, so that you can apply it to other boxes should the need arise:
\documentclass{article}
\usepackage{tcolorbox}
\tcbuselibrary{theorems}
\tcbset{my math box/.style={
colback=white, colframe=black, size=fbox, arc=3pt, boxrule=0.8pt}
}
\newcommand*{\mywbox}{\tcboxmath[my math box]}
\begin{document}
This \mywbox{3x} is in line math.
This
[ y = \mywbox{-5x} - 5 + 6 ]
is not in line math.
\end{document}
Making the background of the box transparent
This can be done using /tcb/opacityback and a skin using a jigsaw frame engine, such as standard jigsaw or enhanced jigsaw.
\documentclass[fleqn]{article}
\usepackage{tcolorbox}
\tcbuselibrary{theorems}
\tcbset{
my math box/.style={
standard jigsaw, % useful for 'opacityback' and 'opacityframe'
colback=green!20, colframe=black, size=fbox, arc=3pt, boxrule=0.8pt,
opacityback=0.6,
}
}
\newcommand*{\mywbox}{\tcboxmath[my math box]}
\begin{document}
This \makebox[0pt]{%
\raisebox{-0.5\height}[0pt][0pt]{\hspace{1cm}\includegraphics{example-image-duck}}%
}%
\mywbox{3x} is in line math.
This
[ y = \mywbox{-5x} - 5 + 6 ]
is not in line math.
\end{document}
