Describe how to use the 'Pick' and 'Omit' utility types in TypeScript with an example.
Instruction: Explain the purpose of 'Pick' and 'Omit' utility types and demonstrate their usage with a practical example.
Context: This question tests the candidate's knowledge of TypeScript's utility types, specifically 'Pick' and 'Omit', and their ability to manipulate types for creating more specific type definitions.
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Thank you for posing such an insightful question that really dives into the mechanics of TypeScript's utility types. Understanding and effectively leveraging 'Pick' and 'Omit' demonstrates not just a familiarity with TypeScript, but an ability to precisely shape data structures to fit the specific needs of an application...