"I am considering launching a new website with a distinct topic and have no intention of linking it to my current website. If my current website were to receive a penalty from Google, could my new website also be affected since they are hosted on the same IP address?"
No, your new website should not be affected by any penalties received by your current website. Google penalizes websites based on their own content and adherence to guidelines, not on the IP addresses they share. As long as your new website has high-quality content and follows Google’s guidelines, it should remain unaffected by any issues with your current website.