Capture program stdout and stderr to separate variables

Question

Is it possible to redirect stdout from an external program to a variable and stderr from external programs to another variable in one run?

For example:

Answer 1

Separately, preserving formatting

cls
function GetAnsVal {
    param([Parameter(Mandatory=$true, ValueFromPipeline=$true)][System.Object[]][AllowEmptyString()]$Output,
          [Parameter(Mandatory=$false, ValueFromPipeline=$true)][System.String]$firstEncNew="UTF-8",
          [Parameter(Mandatory=$false, ValueFromPipeline=$true)][System.String]$secondEncNew="CP866"
    )
    function ConvertTo-Encoding ([string]$From, [string]$To){#"UTF-8" "CP866" "ASCII" "windows-1251"
        Begin{
            $encFrom = [System.Text.Encoding]::GetEncoding($from)
            $encTo = [System.Text.Encoding]::GetEncoding($to)
        }
        Process{
            $Text=($_).ToString()
            $bytes = $encTo.GetBytes($Text)
            $bytes = [System.Text.Encoding]::Convert($encFrom, $encTo, $bytes)
            $encTo.GetString($bytes)
        }
    }
    $all = New-Object System.Collections.Generic.List[System.Object];
    $exception = New-Object System.Collections.Generic.List[System.Object];
    $stderr = New-Object System.Collections.Generic.List[System.Object];
    $stdout = New-Object System.Collections.Generic.List[System.Object]
    $i = 0;$Output | % {
        if ($_ -ne $null){
            if ($_.GetType().FullName -ne 'System.Management.Automation.ErrorRecord'){
                if ($_.Exception.message -ne $null){$Temp=$_.Exception.message | ConvertTo-Encoding $firstEncNew $secondEncNew;$all.Add($Temp);$exception.Add($Temp)}
                elseif ($_ -ne $null){$Temp=$_ | ConvertTo-Encoding $firstEncNew $secondEncNew;$all.Add($Temp);$stdout.Add($Temp)}
            } else {
                #if (MyNonTerminatingError.Exception is AccessDeniedException)
                $Temp=$_.Exception.message | ConvertTo-Encoding $firstEncNew $secondEncNew;
                $all.Add($Temp);$stderr.Add($Temp)
            }   
         }
    $i++
    }
    [hashtable]$return = @{}
    $return.Meta0=$all;$return.Meta1=$exception;$return.Meta2=$stderr;$return.Meta3=$stdout;
    return $return
}
Add-Type -AssemblyName System.Windows.Forms;
& C:\Windows\System32\curl.exe 'api.ipify.org/?format=plain' 2>&1 | set-variable Output;
$r = & GetAnsVal $Output
$Meta2=""
foreach ($el in $r.Meta2){
    $Meta2+=$el
}
$Meta2=($Meta2 -split "[`r`n]") -join "`n"
$Meta2=($Meta2 -split "[`n]{2,}") -join "`n"
[Console]::Write("stderr:`n");
[Console]::Write($Meta2);
[Console]::Write("`n");
$Meta3=""
foreach ($el in $r.Meta3){
    $Meta3+=$el
}
$Meta3=($Meta3 -split "[`r`n]") -join "`n"
$Meta3=($Meta3 -split "[`n]{2,}") -join "`n"
[Console]::Write("stdout:`n");
[Console]::Write($Meta3);
[Console]::Write("`n");