If I were to transfer my domain from Namecheap to Cloudflare.
Would it affect the hosting server I have with Namecheap as that’s where my server is being hosted at this moment?
Welcome to the Cloudflare Community. 
You must use Cloudflare nameservers to use the Cloudflare domain registrar. You will want to check with Namecheap to see if they require the use of their nameservers with their hosting. It is also advisable to ensure that your hosting billing is not part of bundle or otherwise dependent upon registering your domain name with Namecheap.
It is possible that someone using Namecheap hosting with Cloudflare registrar may see this topic and share their experience.
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