There are many of us who work in both appliations on a routine basis. And so, yes, they can live on the same systems without troubles. I do not recommend having both open at the same time, as they are both system/hardware hogs of the highest degree.
As to sharing graphics & such between them ... that's not all that doable. For some very simple reasons.
First, Premiere's graphics are based on using a subset of what's available in AfterEffects. In Resolve, the main 'engine' is Fusion. Both Ae and Fusion are graphics apps, but they are very different not only in coding but in operation. Way past "just" Ae being layers, Fusion being nodes.
Second, both sets of developers are working for an all-in-one "solution". Within their own, highly controlled ecosystem.
For example, although they both allow control surfaces to be used, for BlackMagic, hardware is actually their profit center. Resolve is a loss-leader to get you to buy BM kit, from audio through editing tools through color tools, up to the "Advanced Panel" at $29,000.
Buy spendy enough BM tools, they throw in the license for the Studio version. And I've got a couple extras sitting around, personally.
But although one can use say a Tangent Elements panel in Resolve, their management of it is ... onerous. They do not allow users any control of the mapping of the app to the tool, and they lock out most of the surface's controls at any one time. And their 'menu' system to get to other things is weird.
And their staffers are also very clear both on their own forum and in live presentations that they will not be changing that to allow better user function of non-BM tools within Resolve.
Thankfully, Tangent figured out how to create some software so users can run their panels in Resolve "outside" Resolve's controls ... but also, tap once, and be back with Resolve setup controls. I was in on the beta design/testing, and that's been a big help.
While in the Adobe apps, Tangent can map anything that has an API call to anything on any of their panels. My Elements board in Premiere can do not only color, but resizing/moving/rotation of any screen item, audio track mixing ... anything my little heart desires.
A big pain for Adobe house shops came when a previous program head got the company to drop SpeedGrade, their in-house grading app. Which was replaced with Lumetri. And as one of the more capable people of getting color stuff outta Lumetri that most don't think you can ... well ... it ain't SpeedGrade, sadly.
So many pro shops assume a necessary part of upper-level work is at least a conform out of Pr into Resolve, if not a full round-trip. Now, many of them could, if they knew how, do that work within Pr and skip the day or so of conforming. I'm working on a project to teach that.
But ... that's the big bugaboo in the Adobesphere, the rather more difficult color situation.
Most colorists are based in either Resolve or Baselight. And ... I work for/with/teach pro colorists how to do their thing in Pr if they need to. So I'm around the conform discussions and troubles on a daily basis.
Most colorists have a several page pdf for their clients, on how to build their Pr project so that it can be more easily transferred to Resovle for color, and likely, final finishing. There's a ton of things to be aware of for cross-app workflows.
Neil
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