No. VCarve defines the G-Code in the order of your operations. You can group them yourself or in the Save Toolpaths select the multiple file option and then the group by tool option under that. 1F does not recommend a single file with tool changes as they don’t support jogging for positioning & Z height changes so you can get the bit in/out of the router. There is some code on the forum you can add to the controller setup that can enable jogging functionality to execute on a tool change but you’ll have to do that setup manually - it’s not “out of the box” functionality.
As noted 1F says to use multiple toolpaths.
1/16" for the full cutting length or something like a tapered ballnose but?