Nope you can’t have more than one copy of ADE on your system.
If you ask me for help, that is where I will go looking for a solution. This fixed the problem for most people, including my source, but if you are still having issues then the best place to find a solution is either the Adobe support forums or on MobileRead. So if you are seeing the #2038 error in Adobe DE, here is how to fix it. But others, including my source Erica Sadun, reported that they could not download OverDrive ebooks until after they had reauthorized their computer with Adobe. The only way to fix the issue was to update Adobe DE to v2.0.1 or higher, and for many users that fixed the problem. Users who still ran Adobe DE 1.7 on either Windows or MACos reported getting error #2038 when they tried to download an ebook. Sometime in late November or early December 2016 OverDrive and/or Adobe updated their platforms in some way that broke Adobe DE 1.7. The app could still read ebooks, but numerous members of MobileRead reported that it could no longer download DRMed ebooks from OverDrive. If you are using Adobe Digital Editions 1.7, and are having trouble downloading ebooks from OverDrive, I think I can tell you why.