An Azure service that is used to provision Windows and Linux virtual machines.
Conditional Access is a "gate" on AAD authentication and is unrelated to controlling network traffic so in and of itself can't do what you ask.
I think Azure App Proxy will do what you want though as this can add a layer of pre-authentication to the network traffic flow and thus CA could be used. See https://learn.microsoft.com/en-us/azure/active-directory/app-proxy/application-proxy-security for guidance on a possible path.