Can I use an existing Apple ID on a new iPhone but not transfer any of the data.

You've told us what, but not why.

You can set up an iPhone with or without transferring contents, and you can also disable, or not enable iCloud.

You will want to create a new Apple ID if you want to keep verification codes, notifications, passwords, continuity, and related, separate.

You can share subscriptions with up to six Apple IDs with Family Sharing, but cannot transfer purchases and subscriptions among Apple IDs.

nelson_van wrote:

Okay so if I create a new Apple ID, with Family Sharing certain apps that I’ve paid for won’t transfer to the new one, only subscriptions like Apple Music will?

Apps will not transfer. An Apple Music subscription will not transfer. Music purchases will not transfer. Not apps, not subscriptions, not purchases. Nothing you acquired from Apple will transfer.

Apple Music is not eligible for sharing via Family Sharing sharing, but the Apple Music Family Plan subscription can be shared.

Only your own data and photos and files and such can be transferred, and that transfer can sometimes be a little involved.

Family Sharing allows you access to (most) purchases associated with other Apple IDs within the group.

For most cases, starting off with a new Apple ID is a Bad Idea.