Bit selection/ Dictating which bits do each process

Is there a way that you can choose which bits in a multi-stage cut do each process? I was trying to use a v-bit for the lettering but easel kept trying to use it to cut out the entire object.

Not in the way you’re thinking.
Move the profile cut to a different workpiece. Do all of your v-carving, and then run the separate job with the profile cut.