I fixed the macro I've been working on to accomplish the desired result but I would still prefer a solution with no macro if at all possible.
Here's the temporary fix until I can find if it's possible without the macro:
Sub Test()
If Range("B1") = "Y" Then
Range("A1").Select
With Selection.Validation
.Delete
.Add Type:=xlValidateList, AlertStyle:=xlValidAlertStop, Operator:= _
xlBetween, Formula1:="=list"
.IgnoreBlank = True
.InCellDropdown = True
.ShowInput = True
.ShowError = True
End With
End If
End Sub
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