Separate them now. They need different conditions. If you wait, you will have less of a problem of intertwined roots than the problem of dead roots (probably on the orchid) These "arrangements" are designed for aesthetics, not the long term survival of either plant. (I have a "lucky bamboo", actually a Dracaena, that was in an arrangement with an orchid, given to me by a cousin who didn't know about either... The Phal was already too far gone by the time I got it, but the Dracaena has been living for some 10 years in a vase of water - they LIKE to be very wet, unlike the Phal)
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