Is this "no internet access network" correct?

[Plus0974]

I have a homelab that I'll be installing home assistant to on a new virtual machine and want to make sure I made a network where devices on it cannot access the internet but devices on the network can access it and this is my first time messing with firewall settings. This new network would be under the IP range that starts at 192.168.5.1 instead of the default one for example. Also I already have Wireguard to connect to my home network normally but would I be able to connect to servers on this new ip range still even if it's a different network or will I need a new wireguard instance for this new network?