Yes, you can do that once just by hitting save and OK. If you repeat that, the old preset (with the same name) will naturally be overwritten. If you need different presets with different names, you'll have to give them those different names.
Depending on what program presets you are trying to save, idea of saving separate program presets might be kinda backwards. You could maybe consider using or making a single reabank or instrument definition file and select presets from that instead?
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