I use 1 host running Proxmox VE (PVE) with a VM for Proxmox BS (PBS). Datastores are located on a USB HDD with passthrough of that specific USB ID to the PBS VM.
It works really well and the only actual downside is that, for a complete-restore (e.g. reinstall PVE or new server or hard drives) you need to set up the PBS VM again before you can use your backups.
For the host-config on PVE, I use a systemd service and timer starting a simple proxmox-backup-client backup of /etc. That is enough to restore the configuration in case of some emergency.
Also: Is there a benefit for splitting your services on 2 hosts? Shouldn't 1 host with all VMs consume less electricity than the same VMs split on multiple hosts?