Free Up Storage Space

No. iCloud Photos is a syncing service. Any photo you delete from a device where iCloud Photos is turned on will also be deleted from iCloud and from any other device connected to iCloud Photos. You can potentially reduce the storage space required on a device by turning on Optimize Storage. See: https://support.apple.com/en-us/HT204264

Apple does not currently offer cloud-only storage for photos. If that is what you want or need, you may want to explore 3rd party options such as Google Photos or Dropbox.

As per the article https://support.apple.com/en-us/HT204264

Even the photos and videos you delete on one device, delete everywhere that you use iCloud Photos.

if you delete photos from iPhone , the same photos will be deleted from iCloud.com , because you have signed in with Apple ID and password in an iPhone , the application photo box is turned as on and is synced with iCloud .