I'm very new to using a DAW. I know many VST Plugins allow multiple outputs, assigning different instruments to different tracks, but I cannot figure out how to do this in Home Studio. From my understanding of the documentation, a normal way to do this would be through the Insert Soft Synth Options dialog box from the Synth Rack - but Home Studio doesn't have the Synth Rack, so is there another way?

Hi, and welcome to this forum. You can do this via the "Add Track" button. Choose the instruments tab.
Hope it helps.
All the best.

Hmm. I'm still missing something fundamental here.
Under Add Track > Instrument, I select my desired plug-in, in this case EastWest Play.
I leave the default for Input (Omni). Should it be something else?
For this test, I select 2 tracks.
I hit Create and two tracks appear.
When I click on the plug-in icon in Track 1, it brings up an instance of Play, where I can add a couple of instruments. Am I suppose to select a Midi Channel here? I've tried selecting Ch 1 for the first instrument and Ch 2 for the second, but both instruments still seem to be in that first track. For Midi Channel I can also select Multi, MPE, and Omni. There are also options for Output: 1 & 2 or 3 & 4, etc.
I'm baffled. Thanks for your help.

If SONAR Home Studio supports multiple outputs from a synth, those would be additional audio tracks. My guess it it does support them. After adding the synth to the project, add additional audio tracks setting their inputs to the extra synths outputs. There is usually some additional routing done inside the synth plug-in to get the output to multiple tracks.

Okay. I successfully added additional audio tracks and got the synths playing to those tracks, but what about the MIDI data? I was assuming these linked tracks would behave pretty much like adding a separate soft synth. Seems like I'm getting closer...

I was going to add a part about MIDI but the OP mentioned the "Insert Soft Synth Options" dialog. That dialog provides for a single MIDI track. Add MIDI tracks as necessary and set the outputs to the appropriate synth. You will also need to set the channel (bank and patch depending on the synth). Again their may be config in the plug-in too.

Ah, thanks! I'll give that a try tonight.

Well, the frustration continues. Tried adding MIDI tracks instead of Audio, but things aren't working right. Here is what I am basically doing:
[I was going to add some screenshots here directly but I haven't earned the privilege yet.]
[Edit: well, darn - even the URLs to the images got removed - sorry - have to replace the dots with the word 'dot']
 
Here is how I'm adding the main instance of the EW Play Plugin:
imgur[dot]com/B7lLy0Q

In the plugin, here is the first instrument added with Channel and Output settings.
imgur[dot]com/8KCavxX
 
2nd Instrument settings:
imgur[dot]com/E9hkW5p 
 
Main track plus added MIDI track - cannot record to either track (was able to do so when adding an Audio Track and selecting the input (e.g., 1-2/2: Stereo))
imgur[dot]com/OCKp6KE
 
Plugin mixer settings:
imgur[dot]com/k5UB8U9 
 
Where am I screwing up?
¯\_(ツ)_/¯
I haven't been able to find anything in the docs for Sonar or EastWest that spells this out. It's all at a higher level.