Suppose $T: V \rightarrow W$ and $U: W \rightarrow V$ are linear transformations. It is known that $ U = T^{-1}$ if $UT = I_V$ and $TU = I_W$.
Is it possible to then also have a transform $Z: W \rightarrow V$ such that $ZT = I_V$ but $TZ \neq I_W$ (and likewise, $TZ = I_W$ but $ZT \neq I_V$)?
It is indeed possible. For instance, take $W = \Bbb R^2, V = \Bbb R$, $$ Z(x,y) = x $$ If we define $T(x) = (x,0)$, then we indeed have $ZT = I_{V}$ but $TZ \neq I_W$. The reverse happens if we exchange the roles of $Z$ and $T$.
For a fixed $V,W$ with $\dim(V) = \dim(W) < \infty$, no such pair exists.
In the infinite dimensional setting, the left and right shift operators are an example of such a pair for which $V = W$.