You need to do 2 things. The first is to create a custom location rule that is based on your custom field. The second thing to do is to call the ACF function that will update the field groups displayed on the page.
I played around a bit with this in the past to create custom location rules based on ACF choice fields. https://github.com/Hube2/acf-custom-field-locations-rule. With some work this can be adapted to work on other types of fields… but I would build the function for a specific field only. The plugin I created is not very efficient because it checks every ACF field.
@sgray Hey have you ever got back to this project?
I have something similar where I have a metabox I created for the page editor in WordPress. With Select Values. I wonder How I can dynamically load the acf group when chosen on select? I gotten to the part where I have ajax calling functions but I’m not so familiar in the realm of Advanced Custom Fields