i GOT THE issues , here is my answer.
Now two posts are linked properly.
I just need to update the metadata dynamically.
add_action( 'save_post','add_menu_custom_event', 10, 3);
function add_menu_custom_event( $post_id, $post, $update ) {
/*
* In production code, $slug should be set only once in the plugin,
* preferably as a class property, rather than in each function that needs it.
*/
//Check it's not an auto save routine
if ( defined('DOING_AUTOSAVE') && DOING_AUTOSAVE )
return;
//Perform permission checks! For example:
if ( !current_user_can('edit_post', $post_id) )
return;
//if( false != $update )
//d(get_current_screen( ));
/d($update);
//die;
$post_type = get_post_type($post_id);
$_REQUEST['']
// If this isn't a 'book' post, don't update it.
if ( "tribe_events" != $post_type ) return;
$data = array (
'post_title' => 'New Title6'.rand(1, 9999),
'post_type' => 'tribe_venue',
'meta_input' => array (
'_VenueAddress' => 'Address check',
'_VenueCity' => 'city check',
'_VenueCountry' => 'Afghanistan',
'_VenueProvince' => 'province',
'_VenueZip' => '121007',
'_VenuePhone' => '7503118112',
'_VenueURL' => 'someurl.com',
'_VenueShowMapLink' => 1,
),
);
$pid = wp_insert_post($data,true);
update_post_meta( $post_id, '_EventVenueID', $pid );
}