New
#21
There are many ways to do this, some work better than others.
A. You can install one OS and then the other, and Windows will use the same boot and will also modify your boot menu.
B. You can also perform a full install on both drivers, Drive #1 for Windows8.1 and Drive #2 for W10, it's up to you how to do it, there are tutorials for this on the web, you might need to "disable" one drive at the time via your bios for this to work well.
I prefer option B over option A, why? if you depend on one drive only for booting, if this goes bad you are done, while 2 bootable drives might help you there. HOWEVER... there are cases where Windows has some issues booting and restarting because of the information it stores as swap, hibernation and something else, I won't go over all the details, I had issues with this and found articles about it, but when I mention this I notice some users not being aware of it, so... I won't go the extra mile explaining.
There are other options, I will jump straight to my favorite. Be patient, a Virtual Machine is needed temporarily: I use VirtualBox to create the Windows install of my choice and this involves creating a virtual hard drive (VHD), let's say I install W8.1 x64 / W8.1x32, and W10 pro, that's 3 virtual machines with 3 independent virtual hard drives.
Then I just move or copy these files to the physical drive of my preference and proceed to install and configure VENTOY (it's free), this allows me to boot from USB and then select the VHD of my choice, and this will BOOT my entire computer as if the VHD was a physical hard drive with no virtualization program needed (you can install Virtual Box),
Yes, this is what I use, I keep on my drive VHDs with W8.1 / W10 / Ubuntu / Mint, etc, and it's fast, very fast. Check the web for tutorials, some config is needed.