Yes, you can set up multiple accounts with a hardware wallet Ledger Nano X. For each cryptocurrency, you can set up multiple sub-accounts and label them as well.
For example, you can set up an extra account for your life partner. However, it should be noted that the pin and recovery seed is the same for both and also any authorized person has full access to all accounts. If you want to have a complete separation, you should buy two hardware wallets.