This is not possible, or more accurately it is not built into ACF. You can get this result by adding your own custom JavaScript https://www.advancedcustomfields.com/resources/adding-custom-javascript-fields/. I don’t know exactly what you need to do, but the basics are that you need to add a change action to the taxonomy field, you should look for an example of getting values from Select2 fields. The see what the values are and then hide or show the fields you want to be conditional, you can do this by using that acf hidden-by-conditional-logic class adding or removing this class from the fields you want to be conditional.
There are some solutions in this topic https://support.advancedcustomfields.com/forums/topic/conditional-logic-using-taxonomy-field/
This seems to give a solution http://idealienstudios.com/crazy-with-conditionals/
