Whilst it is possible, we would not recommend using shared web hosting, as you may find that it does not provide all of the options you will need to set up your Xibo CMS.
If your host provider has confirmed that they do not support ZeroMQ or Docker, you would need to set up your Xibo CMS as a custom installation. If you are not able to install ZeroMQ, you will not be able to take advantage of the features that require ZeroMq, for example XMR, which pushes changes to your Players without the need to wait for the next collect interval.
You also mentioned that you are receiving an error when trying to send refresh commands to your Player, this is likely related to the fact that you cannot set up ZeroMQ on your host.
Without knowing what other restrictions your host provider has, I cannot say whether you will be able to set up Xibo successfully.
It is of course your decision but I would strongly recommend looking for an alternative hosting solution.