via @macdailynews an article by @howardnoakley https://macdailynews.com/2019/07/05/how-to-make-two-bootable-macos-versions-on-one-external-ssd/

    • Format SSD in APFS
    • Partition the volume you create
    • Split the volume in two
    • Launch Terminal and type: diskutil list external
    • Run your macOS installers (Catalina and Mojave?)and install each on separate partitions.
    • Now you have two bootable versions of macOS on one SSD.

More details (Recommended).