To add a finer level of granularity to the control of which items users can see in dropdown filtered picklists, you can filter line item and list properties on both Dependent relationships and Selective Access.
In a Format dialog, select both Filter checkboxes: Dependent and Selective Access. Bear in mind, if you want to use Selective Access it must be applied to the list, in Model Settings > Lists and Roll-ups > General Lists, before applying it to list items.
The default is for no checkbox to be enabled.
If both Selective Access and Dependent relationships are enabled, the Example List Name Properties will display only those items the user has been granted access to.