Embedding a screen from one module to another in the same application

Is it possible to have two separate modules containing different screens and one module having a dependency on another module to navigate to the screens?

Yes, It is possible

1) You can make a screen public by selecting yes, so that it will be available in other modules while refreshing dependencies and then after you can use it for navigation purpose.

2) You can also use External URL to navigate to any screen within or outside of the application.