yes. I believe "nové víno" would not mean the same thing, rather a "new" bottle of wine for instance if the first bottle was corked (bad).
How can things be called young? However I understand it in "old" case, but you only use young for live subjects (people,etc.)
It could mean a wine that was bottled early this season, so it is "young". Or it could mean in a sense a wine bottle that is not too old.
If you google the phrase "young wine", you will find plenty of examples and explanations. In short, a “young” wine is recently bottled. Also most wine makers would probably say that wine is alive :)
"Young wine" is perfectly correct in English and it means a wine which is newly made and bottled and has not aged yet.
"youn wine", it's making reference to the well known "Burčak". That's the way Czechs call the wine in early stages of preparation/fermentation. In this stage its way too sparkle and it is usually bottled without a cap or half sealed 'cause it can explode. It's delicious and non-alcoholic
Burčák is certainly alcoholic. But young wine does not have to be burčák at all, it is a specific term from the wine industry https://www.thefrenchcellar.sg/difference-young-wine-aged-wine/