Will the changes made to custom setting DATA in sandbox can be deployed to Production?
- NO
Will the changes made to custom setting METADATA in sandbox can be deployed to Production?
- YES
You can use CUSTOM METADATA TYPES, if you want to deploy the DATA as well as METADATA
Ref: https://help.salesforce.com/articleView?id=custommetadatatypes_overview.htm&type=0
Thanks,
Harsha