In general what used to be various facets of the "monolithic" Win32 vs. UWP divide have been refactored to allow a la carte usage, so not only can you activate your WinRT components without a packaged app, but you can also register your app as "packaged" for runtime purposes without having to install in that format ( https://blogs.windows.com/windowsdeveloper/2019/10/29/identi... ), can install in the packaged format without having to use the sandbox features ( https://docs.microsoft.com/en-us/windows/msix/overview ) can distribute sandboxed apps outside the store ( https://docs.microsoft.com/en-us/windows/msix/app-installer/... ), etc.
The only remaining aspect I'm aware of where there's still a binary decision and coupling is in the windowing model and shell integration; a Win32 process's top-level windows can only be HWNDs and a UWP process's top-level windows can only be CoreWindows. Win32 HWNDs can host both Win32 and UWP UI, but UWP CoreWindows can only host UWP UI; on the other hand, only UWP CoreWindows can make use of UWP shell integration features like fullscreen and picture-in-picture. It would make sense to somehow decouple this facet as well but I'm not aware of any plans to do so.