The answer is yes!
We'll walk you through the steps to do this using the image annotator but first make sure you already have your annotations created. When you're ready:
Go into the Images section of your desired item
Click on the Edit button while hovering over the thumbnail that contains your annotations
When the annotator is opened, click on the Images drawer in the bottom left corner.
When the thumbnail for the product you're currently working on appears, hover over it and click on the 3 dot icon to open the context menu.
In the context menu, click on Copy Annotation
This will save all of the annotations currently on your image to your clipboard within Backbone.
Go into the Images section of your other item
Note: You will need to open your second Product in the same window/tab that you copied the annotations from in the first Product.
Click on the Edit button while hovering over the thumbnail where you want to move your annotations
When the annotator is opened, click on the Images drawer in the bottom left corner.
Hover over your target image and click on the 3 dot icon to open the context menu.
Click on Paste Annotation.
And voilà - your annotations should appear on the new image.