No. Both releases can be installed on the same Client device. In fact, we suggest you don’t uninstall ExtendSim 10 until you’ve finished converting your files to 2024.
Be sure to contact your ExtendSim license administrator and request the license file (extendsim.lic) for ExtendSim 2024. You'll place it in your Documents\ExtendSim folder to activate ExtendSim on your Client device.