As they have said, one is a mechanical " Limit " valve = FPRV a Mitch said #1.
The other is an electrical duty valve ' of sorts ' which controls the actual fuel into the cp3 plungers and ultimately to the injectors. As Mitch said #2.
Plugging number 1 or shimming number 1 is up to what is chosen. Personally, I wouldn't want to risk a chance running my well used components with out a fail safe means to controlling rail pressure. So, I just shimmed mine instead of plugging it. Although, I may have very well shimmed mine more than what will ever pop off.
Shimming my not fix a leaky valve