Yes, you can install both at different URLs within your website. UltimateWB offers the same kind of option – you can use WordPress as the blog section and it uses the UltimateWB styles manager to stylize it, so it matches the rest of your website, with the blog at a subfolder in the website.
Got a techy/website question? Whether it’s about UltimateWB or another website builder, web hosting, or other aspects of websites, just send in your question in the “Ask David!” form. We will email you when the answer is posted on the UltimateWB “Ask David!” section.