No, you can't activate it. When a Digimon is deleted and an [On Deletion] effect on a digivolution card is triggered, it will only be pending activation for the Digimon card with that digivolution card. If a card with an effect that's pending activation leaves that area before the effect activates, the effect can no longer be activated. In this case, if BT20-068 [Bakemon] is deleted and an [On Deletion] effect on a digivolution card is triggered, the effect will only be pending activation for BT20-068 [Bakemon]. If the deleted BT20-068 [Bakemon] leaves the trash, the inherited [On Deletion] effect that was pending activation can no longer be activated.

Yes, you can. When a Digimon is deleted and an [On Deletion] effect on a digivolution card is triggered, it will only be pending activation for the Digimon card with that digivolution card. You can activate BT20-063 [Ghostmon]'s inherited effect even if BT20-063 [Ghostmon] is returned from this card's digivolution cards to the hand.