Possible, but not a great idea. The way the gaskets fail on these is from slow mechanical friction, as the iron block and aluminum heads warm up they expand at different rates, so each heat cycle gives the HG a little bit of a scrub. And eventually that wears the HG out and it fails. Toyota went through 4(?) different HG styles on them, trying to lengthen this interval, starting with a largely conventional style and ending up with a full MLS (multi layer steel) design by the last few years.
So really, if one side gave out, you're very likely to be close on the other side since it's had the same number of heat cycles. And by the time the engine is far apart enough to get one HG done, you're about 95% of the way to the other HG as well.
When my wife's '96 needed HG's, one side was failed, but the other side had signs of damage on a couple of cylinders where the fire ring had moved a little, but not quite enough to fail yet. It would have gone before long though, if not replaced.
EDIT: Meant to add on - regardless of what various parts sources say - you should replace it with the last version of the HG, the full MLS style. No point in putting one of the earlier style gaskets on, even if they're still being sold. The MLS style gasket will last longest in that situation, pinched between an iron block and an aluminum head, and getting scrubbed a bit on each heat cycle.