Is it possible to get a post ID of a 2 different custom post types loop embedded in the same post to perform update_post_meta from the frontend?

The global $postvariable is the current post object (page) a user is requesting.

If you use this variable to retrieve the post ID, you will get the post if of the current page. If you need to update a post meta in another page, you will need to specify the post_id of the page but high chances this won’t be from global $post variable based on your description.

Note that post IDs are unique across post types. A simple way to establish the link between posts is using post meta where you can store the post_id of related post.

Example:

$related_post_id = get_post_meta($post_id,'related_post',true); //get post id of the related post and return as single
update_post_meta($related_post_id,'metakeyyouwanttoupdate','value here'); //do the updates!