It doesnt sound too difficult.
In the Enemies Tab, create two characters. One for the Boss, and one for the Hostage.
In the Troops Tab, first add the Hostage. This makes the Enemy Select target the Hostage first. Then add the Boss.
Since your Hostage is supposed to still be alive at the end of battle, you wont need extra scripts or coding to create an Event for the Battle. In your Troops Tab, set a Condition to Enemy's HP is 0% or below and the Span to Battle. Then in the list of Event Commands on the Troops Tab, set "Force Action...", set Battler -> Enemy #1 (the Hostage), Action -> Basic to "Escape", and Timing to "Execute Now". As soon as the Hostage Escapes, the Battle is over. The party will get Exp and Items.
Creating an Event for killing the Hostage is similar. Troops Tab, create a New Event Page, condition to Hostage HP = 0% or below, Span = Battle. Then set Game Over or how ever you want to "Punish" the player for killing the Hostage as an Event.
Enter dialogue as needed before calling the Final Event Commands of Escape or Game over.