YES! You can crop and reframe and decorate your "horizontal" 16:9 videos to be published in Square (1:1) and "vertical" or Portrait 9:16 formats. Please see our article on reframing and cropping video to alternate ratios.
When publishing to connected destinations, be sure to elect the correct ratio per destination, using the light blue option above each destination's icon (beside the 'add destination' icon).
N.B. For Live Restreaming, you can crop into your videos using the Live With Edition functionality. Depending on your destinations, you may find that a native 16:9 ratio is supported (e.g. TikTok) or cropped into by the destination (e.g. Instagram). If you are interesting is repurposing your signal for vertical live streaming, reach out to your Backlight representative for more information about our Auto ReZone technology.