Related posts using taxonomies

Is there a way to use the path to a specific blog post as a taxonomy item, and be able to embed that post in a different one that points to the former within its metadata? For example, given a post at /blog/related-post, I want to call it in a second post using:

[taxonomies]
related=["blog/related-post","<others here if more than one>"]

From there I want to retrieve and embed data from those related posts further down in /blog/second-post, say the linked title, and summary? By setting it up this way instead of using tags, my assumption is it would reduce build times since it’s only processing related items when specifically added.

Any way to accomplish this?