No, that's not possible. Every policy/tag that applies to a folder in your primary mailbox will also apply to the corresponding folder in the Online Archive. This is mentioned for example here: https://learn.microsoft.com/en-us/exchange/security-and-compliance/messaging-records-management/retention-tags-and-policies#retention-policies
From a retention perspective, the primary mailbox and online archive should not be looked at as separate entities. Retention settings are applied to the primary mailbox, and by design, extend to the online archive. The online archive is an extension of the primary mailbox.