Two-factor verification code

No. If you somehow receive two codes at the same time, only the more newly generated one will be valid. If you happen to choose the earlier code to input, the later one will also be invalidated and you will need to request yet another code.

I don't think you can get two at the same time under either two-step verification or two-factor authentication. Which did you mean?

See Get a verification code and sign in with two-factor authentication https://support.apple.com/en-us/HT204974  Below is an excerpt, but read the whole document. See the bold italics below.

“Whenever you sign in with your Apple ID on a new device or browser, you'll confirm your identity with your password plus a six-digit verification code. There are a few ways you can get a verification code. You can use the code displayed on your trusted device, get a text or phone call, or generate a code from your trusted device [see the additional information in the article].” A trusted device is an iPhone, iPad, or iPod Touch with iOS 9 and later or a Mac with OS X El Capitan and later that you've already signed into using two-factor authentication.

And see Two-step verification for Apple ID https://support.apple.com/en-us/HT204152

"When you set up two-step verification, you register one or more trusted devices. A trusted device is a device you control that can receive 4-digit verification codes using either SMS or Find My iPhone. You're required to provide at least one SMS-capable phone number.

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Note that things could get confusing if you received two at about the same time and one was related to a device that you would not want to allow to sign in. In this context, assuming you are using two-factor authentication, you can Check your Apple ID device list  (https://support.apple.com/en-us/HT205064) and remove any device that shouldn't be signed in using the steps in the link.

If there are none that shouldn’t be signed in, then you should not have a problem at this point. But, if an unauthorized device is signed in, Change your Apple ID password https://support.apple.com/en-us/HT201355 

Here is What to do after you change your Apple ID or password https://support.apple.com/en-us/HT204071

And see these security-related Apple Documents to deal with cases of unauthorized sign ins and other security matters:

  If you think your Apple ID has been compromised https://support.apple.com/en-us/HT201303

Security and your Apple ID https://support.apple.com/en-us/HT201303

iCloud security overview  https://support.apple.com/en-us/HT202303

Ways to keep your information safe on Mac https://support.apple.com/en-gb/guide/mac-help/mh11402/mac

Using app-specific passwords https://support.apple.com/en-us/HT204397