yes, you may have more than one SAP system on the same machine. It doesn't matter whether releases are the same or not.
I can't know what you heard about 'landscape'. I heard about the concept of 'system landscape'. It relates to having a lot of systems (SAP and others) in your enterprise. If you have (or have to install) e.g. dozens of SAP systems, it's well worth considering how to deploy these systems on your (current or future) machines.
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