Words and meanings are not independent of the meaning. Meaning is a result of the word.
The only way words do not mean is if you are not saying something that expresses an meaning that makes sense to you, or you are making a word out of something it doesn’t mean.
If you have a sentence as short and as short as this, it could be called a “strawman sentence”, not at all a sentence with a meaning.
Example:
You’re my only good friend.
If you want to be my only good friend, it still means: “You’re my only friend”.
The sentence “You’re my only good friend” is not a sentence with a meaning, it is a sentence without a meaning.
“You’re my only good friend” means:
It means you are my only good friend.
The sentence “You’re my only” means:
You are my only.
It means you are my only friend, and I am your only good friend, just like you are my best friend.
Therefore the sentence doesn’t actually have a meaning, just like, “You are my (best) friend” has no meaning.
Words like “my only” or “you’re my only” don’t mean anything. They can mean anything. In a sentence without a meaning “you are my only good friend” has no meaning.
If you want to claim this sentence as a meaning, you need to claim that it is what the speaker thinks it means.
Example:
You are my only good friend.
You are my only good friend.
I am your (good) friend because you are my only good friend.
You can’t claim that you’re “my only”.
The statement “You are my only” means:
You are (your) only.
You are (your) only best friend.
Note that “me” or “my” or “you” are not really “you”, “me” is a modifier, and is not the subject of the sentence.
You are, so you are. And “I am” means “I am”. So, “I am” meaning:
I am.
I am (something) is the subject.
What is “something” then (e.g. “your”)?
Something is (what