, Good morning.
For this your need Conditional formatting does not work.
Conditional formatting works only with aesthetic aspects as color, text format, background color and etc.
You need to apply the IF
function to resolve your issue.
Try to use:
=IF(OR(D2="red", D2="yellow", D2="blue"), "Included", IF(D2="custom", "Not included", ""))
Is that what you want?
I hope it helps.
Belo Horizonte, Brasil