Hi @sreekar , thanks for sharing your questions in the Community!
You can use no-code editor where you set default widget appearance for all New Universal Login pages and the Liquid-based page templates where you can conditionally modify the widget and page elements based on, for example, the application id to which a user logs in.
The best way to assure both approaches (no-code + liquid page templates in case of New Universal Login Pages) works without collisions is to give them a shot on a free test tenant with access to all (also paid) features.
In this separate scenario, AFAIK, you do not use liquid-based page templates like above, but the lock library and templates listed here: Customize Classic Universal Login Pages and configure the screen using the available lock configuration options listed here https://auth0.com/docs/libraries/lock/lock-configuration
Hope this helps!