I want to create another iCloud account

You’re creating another Apple ID, each of which has iCloud storage.

An Apple ID can be created in various ways, and you’re probably here hitting a creation limit on an iPhone or iPad though you’ve not indicated enough details to be sure, so you will probably want to create the Apple ID on the Apple website.

Click or tap on the following link for more info > How to create a new Apple ID - Apple Support

The Apple ID created on the Apple website can then be used from any device.

And as these other topics can arise in this context…

Apps and subscriptions and storage does not migrate from one Apple ID to another.

Creating a new Apple ID will not bypass and will not clear an Activation Lock associated with a different Apple ID/

Click here to see how to 'Create an Apple ID'. --> https://support.apple.com/HT204316

Yes, you can use it now.

You haven't provided any background information so all I can do is just reply directly to what you do ask. In most cases you never need, indeed never want, a second Apple ID.