HI Erica,
Yes you are correct and link to the Bull Release blog post and some other information I found jogged my memory on conditional if statement, sorry about that. My previous comments to it not being supported were in regards to using the same relevant and if statements from within the xls form that are set in Connect and honouring those in the custom report template, currently that is not supported and if the placeholder is included in the report, then the answer will be printed regardless of whether the question was not relevant in the survey at the time.
However, you can use conditional if statements in your template and it is documented here: Feature report templates—Survey123 for ArcGIS | ArcGIS
Note I believe this is not supported for select multiple questions due to the nature of the way the answer for select multiple is a comma delimited list, so if creating an if statement the value you are passing in has to match the value as it is stored in the feature layer. It can not pick out part of the stored value as a match.
Hope this helps.
Phil.