Expanded "Link to" functionality (hide Links based on criteria)

We use Links to show how deliverables (in one table) relate to open projects (in another table). As deliverables are completed, they can be hidden in the table view of Deliverables, but they remain visible in the Linked column in the Projects table.

I feel like expanding which records are shown through Links would be a massive boon for anyone who wants to form more of a relationship between different tables.