Can multiple WP installs use the same database?

So I’m redesigning a website. First let me clarify how some domains or set up:

https://www.currentsite.com – The website that is being redesigned exists here.
https://www.newsite.com – This will be a new domain for the website once it is redesigned. Currently this just redirects to currentsite.com. When this new site is up, https://www.currentsite.com will just redirect to it.
dev.newsite.com – This is where I’m building the redesign, and WordPress is currently installed.

Now, I’m building dev.newsite.com to essentially be the exact content that will be at https://www.newsite.com when the design is ready to launch. My plan is to transfer the WordPress install and the database over to https://www.newsite.com, but KEEP everything at dev.newsite.com so I can continue to work on a test version of the site before launching other major changes.

Once https://www.newsite.com is up and running, is it possible to have dev.newsite.com use the same WordPress database so that the content on both sites is exact? I’ll still want to have dev.newsite.com as an independent WordPress install so I can experiment with new plugins and theme changes. Thanks!