Changing an existing Apple ID to a new one due to constant hacking.

In theory yes, it is possible, but only if you have access to the old account to set things up properly. - Purchases can be migrated from a secondary to a primary Apple Account to consolidate them. (This feature isn’t available to users in India.) —> Migrate purchases from one Apple Account to another Apple Account - Apple Support

- Learn about what purchases and associated content can be migrated between two accounts. —> About migrating Apple Account purchases between accounts - Apple Support

However, if you still have access to the to be able to do migration then you might as well simply change your email address to a new one. The support article Change your Apple Account primary email address - Apple Support outlines various methods for changing the email address (Apple ID) you use for your Apple Account while retaining everything in your account.

If your account is no longer accessible then read this article. --> If you think your Apple Account has been compromised - Apple Support

Use the information in this article to check your Apple ID device list to find where you're signed in --> Review devices signed in to your Apple Account - Apple Support

Related materials:

Personal Safety User Guide

Personal Safety User Guide - Apple Support > open the Table of Contents and review the articles

An article with general information about security and your Apple ID --> Security and your Apple Account - Apple Support

Contact Apple for help with Apple ID account security. This page provides country-specific Apple Support contact information ➞ Contact Apple Support - Apple Support

If this works for you, you may create a new email address and simply move your Apple Account to that new address.

Change your Apple Account primary email address - Apple Support

Otherwise:

If you think your Apple Account has been compromised - Apple Support