Can the object identification settings in one application can be used for another application? If so, how?
that question makes no sense.
What application? Are you talking about within WinRunner or your Application Under Test?
If within WinRunner, yes. The information is in the User's Guide on how to set up the object identification which can be carried over within the tool.
As for the application, who knows? We don't have access to your applications, no idea what technologies they are in, or how much alike ro how much they differ from one another.
Insanity: doing the same thing over and over again and expecting different results