Answer is Yes. Possible. Below screenshots will give clarification on the same.
You can see that there are two types of Release Classes are maintained and assigned to two different Release Groups in Release strategy configuration.
Two classes need to be created and assigned to two different groups when we need both Header and Item level release in same system. Generally, we use one of them only as per business requirement.
Now, Overall Release flag needs to be removed for the Document Type which needs Item Level Release in below configuration
Now I will show the screenshot from Purchase Requisition which shows the Item Level Release for the Document Type NB and Header Level Release for the document type ZNBT which have Overall Release Flag.
Thanks and Best Regards,
You can find below YouTube Link for my complete step by step video on SAP MM PR Release Procedure.