Will FM2024 generate new players and emplyoes?

I am not sure but usually a Football manager include that it will create players and employes with new names which lead sometimes to funny names e.g. Pedro Matthäus.

Ingame there is at the beginning just the option to replace real names with fictional names which is not useful. But will FM2024 create future players and employes with new names?

Yes, ‘newgens’ are still very much a part of FM24.  They have to be to ensure that saves can go on for as long as the player wants them to.