I have never watched a Fast & Furious movie. I don't know the history of Hobbs and Shaw. It did not hurt my enjoyment of this movie at all.
This is a turn-off-your-brain-and don't-think-at-all movie. There is tons of action, fights, cars, and stunts that you know could not possibly be done in real life. I mean, I love the Rock but I really don't think he can yank a helicopter out of the sky. The banter between Johnson and Statham is great. There are two cameos from stars that add some extra funny to the movie.
Make sure you have some popcorn and soda when you watch this movie. And stay through the credits for some extra scenes.