I had the same question and figured out a solution for me but I will elaborate on the issue before in case it is the same problem you are having.
I did find a workaround that worked for me so I put what I did below as well as a suggestion you can try in case my workaround is not an exact fit. Also, I hope by putting in more information about my initial issue that maybe someone can give alternate solutions that maybe work better.
The layers in the scenario
What I was trying to accomplish
What I tried
Example of master shapefile attribute table after adding the column called [COLUMN_NAME] and filling cells for the polygons I do want to label.
I hope this helps.
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