Can I Decide Which Data is Collected Through FordPass Connect?

Yes you can. You can decide however connected you want to be, your SYNC system keeps you in control. You can set your preferences in vehicle, including in relation to what Connected Vehicle Information is shared with us, under Connectivity settings menu at any time. 
Please note that disconnecting the vehicle, or making changes to data sharing settings may impact the quality or availability of certain services like Live Traffic, or Remote Lock & Unlock.