Immutability as a capability is enabled at the vault level, the retention (which in such cases becomes immutable) gets applied per each datasource's backup policy.
If one want's to apply immutability to one set of backups but not other one can keep them in separate vaults , but in your case since you are looking enable immutability to both sets of backups ( just with different retentions) you can keep them in same vault with bakcup policies stating different retention periods.