Restrict duplicates in a dropdown single select column

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Hello all!

Does anybody know if SS has a way to restrict duplicates in a dropdown single select column? For example, "Project 4" is already using "D," so when I select a value for "Project 5," "D" would not be available since it's already in use.

Or, if I select "D" for "Project 5" it would automatically change "Project 4" to "E".

Thank you in advance :)

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