Can you share and receive games with two different people on game share?

Multiple accounts can have 1 console as their Home account so any profiles on that console will have access to games from any of those accounts. So yes it is possible. Just keep in mind that the Home setting is meant to be used in your own household. If to share with your friend (or anyone else), you're sharing account information to do so, that would violate the code of conduct and put both of you at risk for being banned.

You can use the game sharing feature to share games/subscriptions between the two consoles.

I would not recommend game sharing. You can set it up for a family so you don't have to buy games on your two household consoles, but sharing passwords with people you dont' really know is dangerous and a security risk.

You don't have to buy two copies of the game for two people to play. You can both play via home share with one copy.

Hi!

You can
share content through sharing for different consoles at home. I have two consoles and my wife plays online with me with shared content. With physical disk it is not possible, but on digital contents yes.