I think the answer is Yes?? But not exactly the same way, with different midi tracks assigned to the different instruments as you described.

Take a close look at the Simeon video which is shown above at ~8 to 12 minutes when he drags and drops the midi back into his daw and then uses another VST as the sound. Keep in mind Kinetic Strings creates 4 Strings Sections in ONE Instrument (track). So I assume you can selectively use the mutes to generate midi from any one section or perhaps just the key mapping alone will handle what is and is not played from the midi in the new VST.

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