Multiple Mac user accounts, one iTunes account, show different songs

I have a M1 MacBook Air that I've always had sole access to. I have a decent-sized music library of songs that I've imported from CD or purchased from the iTunes Store. My wife, who has different tastes in music than I, has expressed interest in having her own user account (why now is not important).

We've used one Apple ID for purchases since the dawn of time (I should maybe add that on our previous Windows laptop, we shared one user account and the albums/songs in iTunes were a chaotic mess), however, when initially setting up the MacBook Air Music app, I only downloaded my songs from the purchase history, thus keeping my user account free of her songs and albums.

Is there a way to set up a second user account on a Mac and keep my songs on my account and keep her songs on her account, even though we use a common Apple ID for purchasing music?