Under Annotatins->People the persons are in unordered sequence.
Is it possible to sort the people by name?
No. Not sure where that sort order comes from.
Use the People View instead. The People View supports custom sort orders and all people-related features. You don't need the annotation collections for anything.
I have a similar question - on the left side there is a list of people that appears to be sorted by first name. I have attached a screenshot. Is it possible to sort this list be last name?
See: Sort By - Sorting People (https://www.photools.com/help/imatch/index.html#people.htm?dl=h-30)