You cannot enable subtitles on any Bedrock edition of Minecraft, including Xbox editions of the game. It is a feature exclusive to Java/PC editions of the game.
In the create new world menu, just scroll down until you find the "world type" area. Then click on where it says "infinite" and select "flat" from the drop down...
Making your Xbox a "home Xbox" allows you to share games, downloadable content, and even your Xbox Live Gold subscription with anyone else who signs in on your console.