Yes, that is possible in many of our drive models. ME300 and the entire C2000 series provide parameter sets for two motors. MS300, MH300 and VFD-E provide parameter sets for four motors.
You can select the active motor through digital inputs and, except for VFD-E, also with a parameter either through the keypad or through communication.
Each motor needs a contactor to isolate it from the drive. The contactors need interlocks so that only one motor connects to the drive at any time. Make sure to change contactor states only when the drive output is zero to avoid damage to the drive.