Yes you can! All you need to do in order to achieve this is to follow the steps outlined in the Carousel Deployment Guide attached to this article.
Setting up a Carousel system to have a separate sql server is not a novice maneuver. It requires an elevated understanding of both Windows OS and your network environment. You should not attempt this unless you understand the steps in the guide fully.
Article ID: 75
Created On: Thu, Nov 13, 2014 at 12:19 PM
Last Updated On: Thu, Nov 13, 2014 at 12:19 PM
Authored by: Joe Bailey [firstname.lastname@example.org]
Online URL: http://kb.trms.com/article/can-i-have-a-separate-sql-server-for-frontdoor-carousel-75.html