Can I install UE 5.1 after I installed 5.3 and run either version?

Development Getting Started & Setup
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hi @greenidog
In Epic Games Launcher go to Unreal ->Library

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Click on the Yellow Plus + which will bring up the 5.2.1 icon

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Click on the white Dropdown inside the 5.2.1 top right

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Select the 5.1.1 or any version to create the 5.1.1 icon the click on the Install you will need at least a further 60DB.