1. How do I Manage Hide/Show Sponsor Section
In WordPress Dashboard go to the Appearance submenu and click on Customize.
After clicking on customizing you will in theme Customizer.
Here you have to click on Frontpage Sections than Sponsor Section
In Setting, you can hide and show the Sponsor Section by clicking on the hide/show button.
Go to Customize -> Frontpage Sections -> Sponsor Section -> Setting -> Hide/Show Section Here.
2. How do I Manage Content Setup in Sponsor Section
In WordPress Dashboard go to Appearance submenu and click on Customize.
After clicking on customize you will in theme Customizer.
Here you have to click on Frontpage Sections than Sponsor Section
In Content Here you will change Sponsor Section Content.
Go to Customize -> Frontpage Sections -> Sponsor Section -> Content
