Hi,
You can create a on change event to achieve this. I used Account entity to test, if the value of industry field is Accounting, the ownership would be hidden.
Please follow the step:
1. Navigate to Data->Tables->Account->Account for Multisession experience, click Add Library button in Form Libraries.

2. Click New Web Resource button to create. After Web Resource created, choose that Web Resource to add library.


3. Click industry filed on the form and add on change event. Finally, save and publish form.

My sample code of Web Resource:
function formOnChange(executionContext){
var formContext = executionContext.getFormContext();
var industry = formContext.getAttribute("industrycode").getValue();
if(industry === 1){
formContext.getControl("ownershipcode").setVisible(false);
}else{
formContext.getControl("ownershipcode").setVisible(true);
}
}
Result:
When the value of industry isn't Accounting, ownership field is visible

Otherwise, ownership field is hidden
