mostly yes but it will depend how you block your Internet connection, with exception GrapheneOS approach all the other ways to "block" internet on Android devices may leak some data.
The chances of some data being leaked is always possible but I'll roll the dice if it means getting to keep using a launcher that's not god awful or pixel-based until some other launchers become more mature.
If we're were talking financial information or something, sure, the chance of leaks is a huge problem, but some usage analytics leaking is more annoying than anything else.