Is it possible to install the newest version for one of my vaults while keeping the current installation for the others?

I have three Obsidian vaults, one of which is frustratingly laggy (I’ve already tried the recommended steps to fix that, to no avail). I’d love to try updating Obsidian to see if that helps, but I don’t want the other two vaults to get the update because I’ve made code level customisations on the theme and plugins + some very targeted CSS tweaks, and everything works perfectly there.

I tried searching for this but I’m not sure if the information is correct. Can I simply install the new Obsidian version in a different directory and keep using both without them getting mixed up? If not, is there some other way to do this?

I’m using MacOS.

Edit: It might be worth noting that I’m not using any kind of sync.