golf hole vs playing period

golf hole and playing period both are nouns.

Word	Noun	Adjective	Verb	Adverb
golf hole	Yes	No	No	No
playing period	Yes	No	No	No

As nouns, playing period is a hypernym of golf hole; that is, playing period is a word with a broader meaning than golf hole:

golf hole: one playing period (from tee to green) on a golf course
playing period: (in games or plays or other performances) the time during which play proceeds

Other hypernyms of golf hole include period of play, play.

golf hole (noun)	playing period (noun)
one playing period (from tee to green) on a golf course	(in games or plays or other performances) the time during which play proceeds