Reinstalling Windows On Old Pc Than Transfer to New Pc

[Windows 11]

I have windows already installed on my pc since I bought a prebuilt but I want to build my dream pc this holdiay. Can I reinstall windows onto my old pc to get rid of the bloatware and then download that windows onto my new pc without the "Activate Windows" watermark? I also do not have the product key for my existing windows copy. Do I need that to install windows without the watermark?

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