Custom posts

I’m trying to better understand custom posts, and how best to use them to handle hosts and shows for a radio project.

I’m don’t know how the hierarchy/taxonomy works.

If I’ve understood correctly, I can create a parent/child relationship between custom post types – so ‘show’ can be a child of ‘host’. But apparently cpts can also have categories.

Presumably, initially I need to create two cpts – ‘hosts’ and ‘shows’.

Hosts seems straightforward, in that for each host I simply do an ‘add new host’ post, which is then published similarly to ordinary posts.

It’s the ‘shows’ that are confusing me… to add a new show I’ll presumably do an ‘add new show’ post – but I don’t know how to then assign a particular show to the appropriate host.

On the edit screen for a show, is there a dropdown (similar to choosing a parent for a page), or is there a check-box option (like assigning a post to a category)?

I’ve read a lot (perhaps too much) on this and not only failed to understand enough, but also deterred myself from experimenting.