I don't think there is a straight forward way of linking the list element with the indicator element, but you can create a field within the layer to indicate which projects can be counted by the indicator element and which ones cannot. For example, I made a field (named Field 2) and used '1' for projects I'd like to count and '0' for projects that I don't want to count. Then, I used a filter within the settings of each element:
Of course, if you already have a field that can filter records, you do not need to create a new one.
Alternatively, if you want your indicator element to change with the selections within the list element, you can go into List element configure > Actions > Selection Mode: Multiple > Filter > Toggle on Indicator. This will update the indicator depending on how many projects are selected within your list.
Another way List and Indicator elements can interact with one another is to group them. You can do this by holding the "shift" key down when dragging/dropping elements. This is good for when you have multiple lists to tab through, and you want the indicator to change with the list.