Not sure if this has already been discussed, but I actually accomplished this natively using two separate field groups. The first field group applies to my CPT and is a Taxonomy checkbox. Then, I make the field in my second field group required, but I set the LOCATION RULE to only display if my CPT belongs to a specific term (using Post Taxonomy in Location Rule). Seems to work quite well, the only downside is having to deal with two field groups, but it’s a minor organizational inconvenience.
