Update: Apparently my interpretation of the manual page is wrong - and the output impedance of the outputs is always 50 ohms.
Original responseAccording to page 11 of this UG900 series manual:
https://www.manualslib.com/manual/2595273/Uni-T-Utg900e-Series.html?page=11#manualthe output impedance of each output may be set anywhere between 1 ohm and 999 ohms or set to Hi-Z.
In order to combine the two signals you cannot use Hi-Z. Moreover, if you choose too low of an impedance (like 1 ohm) you run the risk of forcing an output to source or sink too much current which may damage it. An addition consideration is the output impedance of the combined signal. Choosing 50 ohms for the output impedance is nice compromise which will allow the signals to be combined, protect the outputs and provide a reasonable output impedance of the combined signal. That said, choosing 75 ohms or 100 ohms would also be fine choices.
You haven't said what you want the output impedance of the combined signal to be - and perhaps it doesn't matter if, for instance, you are feeding into a high impedance input. But let's say that you want the impedance of the combined signal to be 50 ohms. In that case you could set the impedance of each signal output to be 100 ohms and then the impedance of the combined signal would be 50 ohms.
A final trick you can play is you can combine the signals in different proportions by playing with the output impedance settings. For instance, if you set CH1's impedance to 100 ohms and CH2's impedance to 50 ohms, the signals will be combined in the ratio of 1:2 (CH1 to CH2).