You can have it installed side-by-side with the existing Fusion, but not have them running at the same time.
I have my v13 renamed to "VMware Fusion 13.app" just so I can tell the difference.
If you upgrade a VM to HWv21 (to get DnD and copy-paste, tools etc..), you won't be able to run that in older versions of Fusion, so backup accordingly!
-
Michael Roy - PM/PMM: Fusion & Workstation