Do as you will, your splitter.....
But my advise.....make a vertical/horizontal unit. Just like the commercial ones. Don't make a vertical only....that still has a pivoting cylinder to lay down to fit in garage. (If that's the plan). Make the whole beam pivot and have option to split horizontal if you ever feel like standing up and not bending over.
And.....I know you only asked a few simple questions.....but a splitter isn't as simple as it looks. Lots of things to consider. Just browse Craigslist for homemade sitters. ALOT of what I would consider failed designs.
Don't be one of them. Splitter mfgs got this down to a science, and buy in bulk. Hard to beat them by building.
Have you considered just buying one?