Hello @lex_zap,
Great question!
Although the show/hide function can be used to display content based on event data, utilizing this feature to hide content based on if and when a user interacts with an email is not supported. Showing or hiding content based on event data is only supported within event triggered flows as you would only be able to target the data passed by the respective event/metric.
This means that you wouldn’t be able to create a show/hide condition based on separate or future events. Another way to think about it is that these conditions would be reactive rather than pro-active.
If you haven’t already, you can take a look and learn more about the show/hide capability through a number of posts within the Community and from the How to Show or Hide Template Blocks Based on Dynamic Variables Help Center article.
I hope this helps!
David