Q.Can I cut plant on right in half and under the shoot and use this to replace plant on left
Do I have to do anything to promote roots or can I just stick it in the ground ?

Certified GKH Gardening Expert
You should be able to cut that tall stem in thirds and have two cuttings to root. The stem left in the pot should send out new shoots.
Here is how to propagate from cuttings:
https://www.gardeningknowhow.com/ornamental/trees/tgen/how-to-root-cuttings-from-various-shrubs-bushes-and-trees.htm
https://www.gardeningknowhow.com/houseplants/dracaena/dragon-tree-plant-care.htm