For the podcasts that are timely, I recommend going into the Settings for that Show. Then select Custom Settings. In here the Limit Episodes can be set to Most Recent, 2 Most Recent, 3 Most Recent, 5 Most Recent, or 10 Most Recent.
This lets you set different shoes to retain different numbers of episodes. A 5 minute daily show, you may want to retain 5 Most Recent. An hour-long weekly show, you may only want 2 Most Recent. This way you don’t have to do anything and you won’t see old episodes in the Show list or in your Stations.
You can also set up a Station that includes only those Shows and use the Include option to only have the x Most Recent episodes. This keeps them in the Show list, but you can play just the most recent episode. I use this when I want to listen to older episodes when I’ve got more time, like a road trip.
I used the Linit Episodes setting in previous versions of Podcasts because it meant I didn’t even have to go through to mark individual episodes as played. This setting is applied to the subscription and is synced across all of your devices. Download settings are specific to the device, so you can manage storage differently from your phone to your desktop computer.