You cannot install both side-by-side by default. If Office 365 (64-bit) is already installed, attempting to install the 32-bit ACE will fail with a cryptic error message about conflicting components.
It enables older Access databases to run on modern systems, even if those systems use newer versions of Office. microsoft access database engine
Provider=Microsoft.ACE.OLEDB.12.0;Data Source=C:\Data\MyDatabase.accdb;Persist Security Info=False; You cannot install both side-by-side by default