I think you can just jump in and start learning, especially the very basics. This article is pretty helpful if you want to take some relatively inexpensive and low-commitment intro courses online: http://firstyearmusicproducer.com/latest/top-5-udemy-music-theory-courses-new-music-producers/
When I was first starting out I also took a really good course from Berkelee School of Music on Coursera (it was like $50). To complete the course you needed to commit 5-7 hours a week, but it really helped me get the basics down...I had a good handle on basic chord progressions by the end of it, which was great for sketching productions. This was the course series: https://www.coursera.org/specializations/musicianship-specialization