Так работает
$labels = array(
  'name' => _x( 'Продукты', 'taxonomy general name' ),
  'singular_name' => _x( 'product', 'taxonomy singular name' ),
  'search_items' =>  __( 'Search product' ),
  'all_items' => __( 'All Products' ),
  'parent_item' => __( 'Parent product' ),
  'parent_item_colon' => __( 'Parent product:' ),
  'edit_item' => __( 'Edit product' ), 
  'update_item' => __( 'Update product' ),
  'add_new_item' => __( 'Add New product' ),
  'new_item_name' => __( 'New product Name' ),
  'menu_name' => __( 'Продукты' ),
);    
register_post_type(
'products',
 array(
 'labels'              => $labels,
 'exclude_from_search' => false,
'has_archive'         => true,
'public'              => true,
'publicly_queryable' => false,
'rewrite'  => false,
'can_export'          => true,
'show_in_nav_menus'   => true,
'supports'            => array('title', 'editor', 'thumbnail', 'comments', 'page-attributes','excerpt'),
'show_in_rest' =>true,
 )
);
register_taxonomy(
'product_cats',
'products',
 array(
 'hierarchical'      => true,
 'show_in_nav_menus' => true,
'labels'            =>array(),
 'query_var'         => true,
 'rewrite'           => array('slug' => 'product_cats'),
 'show_in_rest' => true,
    )
  );