Yes, this is possible--but manual editing of a bulk VCF file can easily break the format and become very confusing. Since a VCF file contains multiple contacts in a structured format, selecting specific entries without errors is not easy manually.
The best way is to use a reliable VCF splitter tool or contact manager. First, you can split the bulk VCF file into individual contacts, and then simply pick the contacts you need. This method is safe and avoids any data loss.
I had the same issue and fixed it using GainTools Address Book Manager. It allows easy VCF file splitting and helps you extract only selected contacts while keeping all details like phone numbers and emails intact.