Release : 16.0
Component : CA Top Secret for z/OS
No, an LPAR cannot host multiple versions of Top Secret.
Top Secret like, z/OS, can only have one version installed on an LPAR. Different versions can be installed on different LPARs but not the same LPAR. (An LPAR is a single virtual machine that can have only one version of an Operating System and only one version of a Security Program running on it.)
A newly installed version of Top Secret will need to be IPL'd in order to take effect.