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I want to spend a month or two building my WordPress site before I launch it. I’m going to buy my own domain, not do a free .Wordpress site. Is there a way to build the site before I start paying for the domain?
Maybe I can do a free .Wordpress site and then once I’m done convert it to my own domain?

On subdomain or a localhost server. But with wp you then need to change the temporary domain to the new one when you’re going live… Not very hard, but it’s a procedure 😉
You can build a site on a localhost. But the common misconception is you are going to “launch” a site and that means absolutely nothing unless you plan to drop $1000s on advertisements.
You could make the best site ever but absolutely nobody will find it for months without paying for advertisements.
For some odd reason people think you can build a site and then magically people will find it 😂
Personally I’d stay away from WordPress.com and just get WordPress.org + hosting. Some hosts throw in a free domain for a year which might help your case otherwise a domain is like 10gbp a year from Google and probably even cheaper elsewhere.
You can also build locally (Google localhost WordPress) and then migrate when you’re ready.