Can I meet another driver at Loughmacrory junction without parking on the A505?

Yes.

The official Park and Share directory lists Loughmacrory junction at Mountfield on the A505 Killyclogher Road. It is designated as a meeting point for car sharing rather than a full bus station. That gives drivers a clearer option than waiting on the shoulder of the A505. Confirm the Mountfield location in your navigation before leaving and use marked bays; nearby minor junctions may be confused with the actual Park and Share entrance.