You could also make an argument to say that you have to play Foden in his optimal position and fit others around him. They're two of the best players in world football right now and it's difficult to judge who is currently the better player.
Bellingham has performed well for England playing box-to-box, and was outstanding playing in that role for several seasons at Dortmund. Foden however has struggled to perform for England playing out wide. He's never really been given a run of games playing as a 10 for England, but it might just be the key to him managing to replicate his club form at international level.
I feel it's different to the Lampard and Gerrard situation. The reason why they couldn't play together was because it left us with no defensive midfielder. John Terry spoke about this on a podcast recently and said as a defender you'd notice we'd be getting over-run in midfield, as neither of them wanted to sit and protect the defence. That wouldn't be the case if Bellingham and Rice play together in my opinion.