Use new Ghostscript under old PDFcreator?

I have this running system

  • Windows server 2003, SP2
  • PDF Creator 0.9.6
  • Ghostscript 8.63

I want to update GS to a more current version, e.g. GS9.27W32. Will this be possible?
Can I install the new GS parallel to the old one and switch the settings in PDFCreator?

Thanks and reagrds