Create Dynamic Choice list based on Opportunity Line Item Products

Summary:

Can we create a dynamic choice list to show a list of products that are on the opportunity line items for a custom object related to the opportunity object.

Content (please ensure you mask any confidential information):

We have a custom object called "Preference", and this custom object is a related object of Opportunity.

On the Preference Object, we have a field called "Preferred Products" and it is a picklist field that shows a list of products we have.

We would like this picklist field to only show the products that are on the opportunity line item records of the associated opportunity for the Preference object record. See below for an example. The preferred product lov changes based on the products on the assocaited opty line.