Multiple Installs of 2017, is it possible?

Nothing nefarious, I just like to have a "Vanilla" install and a "Modded" install of games when I can do it.
So let's say I wanted to have two seperate installs of TS2017, one with USA routes and another with Euopean routes on the same computer and never wanting to run both at once. Is that possible? If so, how? Can TS2017 live outside the Steam file structure?
So let's say I wanted to have two seperate installs of TS2017, one with USA routes and another with Euopean routes on the same computer and never wanting to run both at once. Is that possible? If so, how? Can TS2017 live outside the Steam file structure?