Multiple disk images can be stored on the same drive. Are you going to use a third-party imaging program for making disk images, or the function included in Windows 10? If using a third-party program such as 'Macrium Reflect' or 'EaseUS ToDo', then naming using different names is done within the programs. They will give an image a default name (usually including the date and time the image was made) but the names can be changed if desired.
If you use Windows' own disk imaging function by going to: 'Control Panel > Back up and Restore (Windows 7)' the finished image is stored on the external USB device as a folder called 'WindowsImageBackup'. If a second image is made, this folder (and the image stored within it) will get overwritten by the new image. This can be overcome by renaming the WindowsImageBackup folder. For instance, call it: 'WindowsImageBackup-march27'. Then windows will make another image called 'WindowsImageBackup' without overwriting the image in the renamed folder. This can be done for storing several images.
The only important thing to remember is to rename the image you want to use for restoring to WindowsImageBackup otherwise the Windows restore procedure won't be able to find it. Always have one that's called this name so that, should disaster strike, the system repair disk (or Windows installation disk) can find a WindowsImageBackup folder to restore from.
Obviously Windows' own imaging function is a bit inconvenient in some ways but it's what I use and I've never had an image let me down. It is possible to rescue individual files from an image if necessary. A bit involved but it can be done.