HR Helpdesk - Can you hide/show a field depending on the value in another?

Summary

Can you hide/show a field depending on the value in another?

Content

I have 2 custom fields -

Custom Field 1: Have you tried to resolve this grievance informally? (Fixed Choice List with Yes or No values)
Custom Field 2: What actions have you taken to resolve this informally? (Long Text Box)

I would like Custom Field 2 to only display on the page layout if the value in Custom Field 1 equals Yes.

How can this be achieved?

Version

19C