It seems completely separate, as it should be tbh. I am sure there will be sone references but this title has nothing to do with the narrative events of bg1 and 2. It is just the setting afaik.
As someone who has played BG1 and 2 and is now 21 hours in the game ... so far there are no references. But the story, the worldbuilding and the characters are sooo gloriously brilliant
It’s very standalone. It’s based in the forgotten realms universe in terms of lore, so it has a ton of depth there. The actual story arc though seems totally unconnected to the previous ones at least ten hours or so in.
I haven't played much, but I assume you don't need to at all, considering how old those previous games are. It would be a big mistake considering the vast majority wouldn't have played them.