Yes, you can have two active installations at once. Both PC or Both MAC or one of each. However, the license is for one user. You and your wife will be breaking the license terms if each use it separately.
Ken Seals - Nikon Z9, D850, 14mm-800mm. Computer Win 10 Pro, I7-8700K, 64GB, RTX3070TI. Travel machine: 2021 MacBook Pro M1 MAX 64GB. All Adobe apps