In general, there's no problem with having several utilities installed for morphs, but sometimes there are some that do cause problems. In this case, when you load your character you will get a message telling you that DAZ has found duplicate formulas, and you will have to examine the LOG file to know which one it refers to and delete that directory (it is not complicated, but the first time it can be, lol).
There is also no problem with that notice, you can work with the characters and render without problem, but if you use tools to render several images one after the other, then it's a problem, because when that message appears will stand there without advancing until you say OK, and that with each image with characters that have that problem.
My advice, install whatever you need, and if by bad luck you have that problem, here we are to help