Currently the way to hide in iOS is to long press on Up Next items in the Home tab
Or press the 
icon in the progress tab of the Profile screen.
Unhiding them is probably the harder part to find as you currently have to go via the website settings.
It only “hides” from the up next/progress, and then calendar if you choose to. It’s the closest we have to ‘Drop’/‘Stop Watching’ at the moment.
I believe we’re looking at making this a bit easier in the near future so if you have any specific examples of what you’d prefer to see (and where) please let us know. Somewhere on the show page makes a lot of sense so you can find it via search and manage it there.
Edit: Not sure exactly what else you meant by: