Can I customize the basemap?

[DanielEms]

I'm new to ArcGIS after working with MapInfo for 20 years, so I may be approaching this all wrong...

In MapInfo (with StreetPro), I had access to individual street layers (by state) instead of a "basemap", e.g. Interstates, Highways, Major Roads, etc.  It was easy to make any layer visible/hidden, change the line styles and colors, add labels/shields to specific road segments. I had a lot of control over the look of the basemap.

I have StreetMap Premium through the Business Analyst extension.  I've started working with the online Vector Style Editor , but I don't know if it does what I want.

1. When I create a new vector style, I don't see StreetMap Premium as an option. Is World Street Map the same thing?
2. Once I create the new style and add it to an ArcGIS Project, will I be able to:
   1. See the individual layers and change visibility, colors, etc.?
   2. Add shields or labels to specific roads?
3. If I just want to hide the "local" roads in a single Project, would I have to create a new vector style?
   1. Should I make a vector style for each layer? I realize that each layer as I'm referring to it is actually a group of layers in the vector style editor.

Is there some other way to do this?

Thank you for helping me with the transition to ArcGIS!