Hi,
Q. Can We Transfer SEPM database Embedded to SQL Database?
--> Yes you can.
By default embedded database support upto 5000 clients per SEPM & SQL database can support upto 80,000 clients per SEPM.
This is the public KB you can refer to convert the database.
Symantec Endpoint Protection Manager: Moving from the embedded database to Microsoft SQL Server
http://www.symantec.com/docs/TECH102547