Custom Post Type theme template files in child theme

Hi,

Can I get guidance on where to add Custom Post Type theme template files into an Understrap child theme? Also how to tweak the theme templates from the Parent theme. Do they follow the standard theme template hierarchy?

Would I just copy the theme files from the parent theme, and put them into the child theme with the same directory hierarchy, and then modify those copies? I believe that is the standard method for theme/child-theme set-ups.

For example, copy a template from the parent root directory; then paste (or paste-then-rename for a new but similar template) into the child theme root directory; create child theme directories called “loop-templates” and “page-templates”; then copy/paste/(rename-for-similar) from/to the corresponding directories?