co-supervisor from a different university?
It is not unheard of, certainly, though isn't especially frequent. But whether it can happen or not is up to your advisor and the university, as well as the other person, of course.
But you need to work out details in advance to make it successful. If it is typical for advisors to be co-authors on the resulting work (some fields) then you need to come to some agreement about that. Some compensation for the other professor might be available or not. It might even be needed.
But also be prepared for the distant professor to not do very much.