Hi Nathi,
Good questions!
Simple answer is, that you’ll probably need a UV Map, because you’ll Bake to an Image Texture, that is 2 dimensional.
You can also Bake some things to Vertex Colors……but,
Let’s get to know our trusted default Cube:
It has 8 Vertices, 12 Edges, 6 Faces and each Face has 4 corners, making a total of 24 Face Corners. Each Face Corner has a Number (Index) assigned to it, starting with 0.
When you Unwrap the Cube (or any Mesh Object), each Face Corner gets a position on a 2D grid, going from 0 to 1, but because each Face Corner has an Index, even without a UV Map, they are uniquely identifiable…something like this is happening:

So you can assign a Color to each Face Corner (the default Vertex Color Attribute uses Face Corners), without a UV Map.
But still, for Displacement and most other Bakes, you’ll want a UV Map for the Object you want to Bake to.
I hope this makes at least a bit of sense.