Create new CPT & Taxonomy programmatically

function Register_New_Cpt()
{
    $cpt_name = 'YOUR_NEW_POST_TYPE';
    $all_taxonomy = array('YOUR_NEW_TAXONOMY');
    $namespace = 'YOUR_NAMESPACE';
    $cpt_name_array = cpt_taxo_naming_convention($cpt_name);
     
    foreach ($all_taxonomy as $single) {
        $taxo_name_array = cpt_taxo_naming_convention($single);
         
        $opts['public'] = true;
        $opts['publicly_queryable'] = true;
        $opts['hierarchical'] = true;
        $opts['show_ui'] = true;
        $opts['show_in_menu'] = true;
        $opts['show_in_nav_menus'] = true;
        $opts['show_in_rest'] = true;
        $opts['show_tagcloud'] = true;
        $opts['show_in_quick_edit'] = true;
        $opts['show_admin_column'] = true;
        $opts['sort'] = 'true';
        $opts['capabilities']['manage_terms'] = 'manage_categories';
        $opts['capabilities']['edit_terms'] = 'manage_categories';
        $opts['capabilities']['delete_terms'] = 'manage_categories';
        $opts['capabilities']['assign_terms'] = 'edit_posts';
        $opts['rewrite']['slug'] = __($taxo_name_array['slug'], $namespace);
        $opts['rewrite']['with_front'] = false;
        $opts['rewrite']['hierarchical'] = false;
        $opts['rewrite']['ep_mask'] = EP_NONE;
        $opts['labels']['name'] = __($taxo_name_array['plural'], $namespace);
        $opts['labels']['singular_name'] = __($taxo_name_array['singular'], $namespace);
        $opts['labels']['menu_name'] = __($taxo_name_array['plural'], $namespace);
        $opts['labels']['add_new_item'] = __("Add New {$taxo_name_array['singular']}", $namespace);
        $opts['labels']['add_or_remove_items'] = __("Add or remove {$taxo_name_array['plural']}", $namespace);
        $opts['labels']['all_items'] = __($taxo_name_array['plural'], $namespace);
        $opts['labels']['choose_from_most_used'] = __("Choose from most used {$taxo_name_array['plural']}", $namespace);
        $opts['labels']['edit_item'] = __("Edit {$taxo_name_array['singular']}", $namespace);
        $opts['labels']['new_item_name'] = __("New {$taxo_name_array['singular']} Name", $namespace);
        $opts['labels']['not_found'] = __("No {$taxo_name_array['plural']} Found", $namespace);
        $opts['labels']['parent_item'] = __("Parent {$taxo_name_array['singular']}", $namespace);
        $opts['labels']['parent_item_colon'] = __("Parent {$taxo_name_array['singular']}:", $namespace);
        $opts['labels']['popular_items'] = __("Popular {$taxo_name_array['plural']}", $namespace);
        $opts['labels']['search_items'] = __("Search {$taxo_name_array['plural']}", $namespace);
        $opts['labels']['separate_items_with_commas'] = __("Separate {$taxo_name_array['plural']} with commas", $namespace);
        $opts['labels']['update_item'] = __("Update {$taxo_name_array['singular']}", $namespace);
        $opts['labels']['view_item'] = __("View {$taxo_name_array['singular']}", $namespace);
        
        register_taxonomy($taxo_name_array['slug'], sanitize_title($cpt_name_array['plural']), $opts);
    }
     
    /**
     * Create new custom post type
     */
    $opts = array();
    $opts['can_export'] = true;
    $opts['capability_type'] = 'post';
    $opts['description'] = '';
    $opts['exclude_from_search'] = false;
    $opts['has_archive'] = sanitize_title($cpt_name_array['plural']);  // bool|string
    $opts['hierarchical'] = true;
    $opts['map_meta_cap'] = true;
    $opts['menu_icon'] = 'dashicons-bank';
    $opts['menu_position'] = 25;
    $opts['public'] = true;
    $opts['publicly_querable'] = true;
    $opts['query_var'] = true;
    $opts['register_meta_box_cb'] = '';
    $opts['rewrite'] = false;
    $opts['show_in_admin_bar'] = true; // Define For 'Top Menu' bar
    $opts['show_in_menu'] = true;
    $opts['show_in_nav_menu'] = true;
    $opts['show_ui'] = true;
    $opts['show_in_rest'] = true;
    $opts['supports'] = array('title', 'editor', 'thumbnail');
    $opts['taxonomies'] = array();
    $opts['capabilities']['delete_others_posts'] = "delete_others_posts";
    $opts['capabilities']['delete_post'] = "delete_post";
    $opts['capabilities']['delete_posts'] = "delete_posts";
    $opts['capabilities']['delete_private_posts'] = "delete_private_posts";
    $opts['capabilities']['delete_published_posts'] = "delete_published_posts";
    $opts['capabilities']['edit_others_posts'] = "edit_others_posts";
    $opts['capabilities']['edit_post'] = "edit_post";
    $opts['capabilities']['edit_posts'] = "edit_posts";
    $opts['capabilities']['edit_private_posts'] = "edit_private_posts";
    $opts['capabilities']['edit_published_posts'] = "edit_published_posts";
    $opts['capabilities']['publish_posts'] = "publish_posts";
    $opts['capabilities']['read_post'] = "read_post";
    $opts['capabilities']['read_private_posts'] = "read_private_posts";
    $opts['labels']['name'] = __($cpt_name_array['plural'], $namespace);
    $opts['labels']['singular_name'] = __($cpt_name_array['singular'], $namespace);
    $opts['labels']['add_new'] = __("Add New {$cpt_name_array['singular']}", $namespace);
    $opts['labels']['add_new_item'] = __("Add New {$cpt_name_array['singular']}", $namespace);
    $opts['labels']['edit_item'] = __("Edit {$cpt_name_array['singular']}", $namespace);
    $opts['labels']['new_item'] = __("New {$cpt_name_array['singular']}", $namespace);
    $opts['labels']['view_item'] = __("View {$cpt_name_array['singular']}", $namespace);
    $opts['labels']['view_items'] = __("View {$cpt_name_array['plural']}", $namespace);
    $opts['labels']['search_items'] = __("Search {$cpt_name_array['plural']}", $namespace);
    $opts['labels']['not_found'] = __("No {$cpt_name_array['plural']} Found", $namespace);
    $opts['labels']['not_found_in_trash'] = __("No {$cpt_name_array['plural']} Found in Trash", $namespace);
    $opts['labels']['parent_item_colon'] = __("Parent {$cpt_name_array['plural']} :", $namespace);
    $opts['labels']['all_items'] = __($cpt_name_array['plural'], $namespace);
    $opts['labels']['archives'] = __("{$cpt_name_array['plural']} archives", $namespace);
    $opts['labels']['attributes'] = __("{$cpt_name_array['singular']} attributes", $namespace);
    $opts['labels']['insert_into_item'] = __("Insert into {$cpt_name_array['singular']}", $namespace);
    $opts['labels']['uploaded_to_this_item'] = __("Uploaded to this {$cpt_name_array['singular']}", $namespace);
    $opts['labels']['featured_image'] = __("{$cpt_name_array['singular']} Image", $namespace);
    $opts['labels']['set_featured_image'] = __("Set {$cpt_name_array['singular']} Image", $namespace);
    $opts['labels']['remove_featured_image'] = __("Remove {$cpt_name_array['singular']} Image", $namespace);
    $opts['labels']['use_featured_image'] = __("Use as {$cpt_name_array['singular']} image", $namespace);
    $opts['labels']['menu_name'] = __($cpt_name_array['plural'], $namespace);
    $opts['labels']['filter_items_list'] = __("Filter {$cpt_name_array['plural']} list", $namespace);
    $opts['labels']['items_list_navigation'] = __("{$cpt_name_array['singular']} list navigation", $namespace);
    $opts['labels']['items_list'] = __("{$cpt_name_array['singular']} list", $namespace);
    $opts['labels']['item_published'] = __("{$cpt_name_array['singular']} published", $namespace);
    $opts['labels']['item_published_privately'] = __("{$cpt_name_array['singular']} published privately", $namespace);
    $opts['labels']['item_reverted_to_draft'] = __("{$cpt_name_array['singular']} reverted to draft", $namespace);
    $opts['labels']['item_scheduled'] = __("{$cpt_name_array['singular']} scheduled", $namespace);
    $opts['labels']['item_updated'] = __("{$cpt_name_array['singular']} updated", $namespace);
    $opts['rewrite']['ep_mask'] = EP_PERMALINK;
    $opts['rewrite']['feeds'] = false;
    $opts['rewrite']['pages'] = true;
    $opts['rewrite']['slug'] = __($cpt_name_array['slug'], $namespace);
    $opts['rewrite']['with_front'] = false;
     
    register_post_type($cpt_name_array['plural'], $opts);
}
add_action('init', 'Register_New_cpt');

function cpt_taxo_naming_convention($word)
{
    $name = [];
    $name['singular'] = ucwords(strtolower(preg_replace('/\s+/', ' ', $word)));
    $name['slug'] = sanitize_title(strtolower($name['singular']));
    $last_character = substr($name['singular'], -1);

    if ($last_character === 'y') {
        $name['plural'] = substr_replace($name['singular'], 'ies', -1);
    } else {
        $name['plural'] = $name['singular'] . 's'; // add 's' to convert singular name to plural
    }
    return $name;
}