No, you cannot combine limited CRM access with limited deal access. If you set limited CRM access for a co-worker, the limited deal access does not apply anymore. Limited CRM access means your co-worker can only see the customers for which they are account manager, which means they can no longer see any deals of customers who are not assigned to them.
What is the difference?
Strictly speaking, the greatest difference between both types of limited access is that limited CRM access is more restricting than limited deal access: limited CRM access applies to more modules. A user with limited CRM access will only be able to see the deals, quotations and invoices of companies he or she is responsible for. All other information will be hidden. As for limited deal access, only the deals (and their linked quotations) for which the user is not responsible will be hidden.
If you want to change these settings, navigate to Settings > Users and click on the three dots > Edit next to the user which you want to edit.