Is it possible to Instantiate more than one object of the same hardware? (OLED SSD1306)

Why don't you reconfigure the only one display you have?
There's probably an end() function, or calling begin again does not hurt.

If the reconfiguration can only be done via the constructor,
you could create the display dynamically, so you can destroy it and make a new one.

I don't think your two object approach will work.

And I still see no sense in using two different methods of access in the same sketch.