Why not merge 2 widgets in one(just defined different xml package file), and then you can use react hook context.
I hope Mendix can comment on what their plans are for this long term. Right now they're using true global state for context.
Dit you have a look at the component type 'widget' that can be fed as a child to your widget? See: https://docs.mendix.com/apidocs-mxsdk/apidocs/pluggable-widgets-property-types/#widgets
I implemented this feature in the Google Maps Custom Marker React widget; the infowindow popup on Google Maps is an actual Mendix dataview that can be fully styled in Studio Pro and then is accessible in the widget to show as a popup.