Dear CCentofanti,
Thanks for your query in this community.
Unfortunately, I am afraid you might won’t be able to achieve what you want with the column conditional formula at this time.
According to my test results, when you allow the multiple values on the choice column, the conditional formula will become unusable. Based on my understanding, this issue could be cause when you enable multiple values for this column, the data is no longer stored as a string format. Instead, on a programming level, it might use List or Dict to store and process the data. In this way, when you use the formula:
=if([$Choices]=='Choice 1','true', 'false')
It will compare the List with a string, which obviously will return error every time. Hence, the formula will stop functioning as expected.
The only suggestion/workaround I could provide is customizing the form with the PowerApps. In the PowerApps, you could setup a toggle and switch the toggle to show/hide those column fields.
Set conditional formatting via PowerApps with SharePoint List form
However, I agree with you that in the article: Show or hide columns in a list or library form, it mentioned this part in the Choice column section.
"The following formula checks if the choice column [$Category] has a value Product Management"
This might mislead some users to think the multiple values Choice column is supported.
In this kind of situation, I would suggest you submit your feedback in the SharePoint UserVoice. In this way, your idea will be directly reviewed by the related team, and idea with higher votes might eventually been released as new feature in the future updates.
Your understanding is highly appreciated.
Regards,
Alex Chen