Do we need to create the objects before we print the QR labels?

No, you can print hundreds of QR labels without any corresponding objects.
At first use of the QR code, you can select if the QR shall be used to create a new object based on a template, connect it to an existing object or create an object from scratch.

This is suitable for scenarios like equipment service: The technician can have a bunch of labels in the toolbox and apply a label onto the serviced equipment. Then scan the QR and “initiate” the object.
At the next scan, the object webpage will appear!