but my iCloud is connected to my iPhone both devices have the same iCloud/Apple ID
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That's totally fine, that both devices are registered on your Apple ID.
if I do a reset to my iPad will effect my data on my iPhone?
No, your iPhone data remains intact.
See -> How to factory reset your iPhone, iPad, or iPod touch
How to factory reset your iPhone, iPad, or iPod touch - Apple Support
See also -> Restore your iPhone, iPad or iPod touch to factory settings
A factory restore erases the information and settings on your iPhone, iPad, or iPod and installs the latest version of iOS, iPadOS, or iPod software.