First of all welcome to your new puppy. I’m in a similar position often as I foster dogs for rehoming. We often have puppies especially about now when people who bought them at Christmas are getting fed up of them ? These then just want to play, hang on the ears, nip at the feet of our old dog. He doesn’t like it. If we get two young dogs together then that’s a help as they play with one another..
I’d suggest you get a crate. Not too big. Put puppy in there to give resident dog a rest. I keep mine under the kitchen table when it’s nice and dark and feels like a safe den for them. Even if only for 10 minutes when your dog had had enough. Teach your puppy his place in the pecking order by greeting your older dog first in the morning and when you come in. Give older dog treats first, pup his bowl down first, etc.. This will send a message to both dogs.
I also find putting the puppy on a lead calms them down and gives you control.
It’s only puppy playfulness but very wearing on resident dog. Take pup outside teach him to chase a ball. Get him a tuggy, that’s also good for his teeth.
But your resident dog is young too so it may be that before long he will start to play with pup. And be ready for a few snarls and lip raising as he needs to teach puppy where the boundaries lie. Most of this is only ‘handbags’ an with a bit of love and patience they will be the best of buddies ....eventually.