Conditional formatting matrix values based on other table column values

I got the answer. Thanks all for reading this. Here is what I did :

I created measure for selected date hired, selected date released for the employee in the context.

SelectedStaff = SELECTEDVALUE(table[table.employee]) to capture the staff in context
Selected Date Hired = CALCULATE(MIN(Employee[Employee.dateHired]),FILTER(Employee,Employee[Employee.displayName] = [SelectedStaff])) to capture the hired date of employee in context
Similar dax for date release. Finally created the outstanding flag with below formula:
Outstanding flag = IF([WeekDay- Weekend] = "Weekday" && [Selected Date] >= [Selected Date Hired] && [Selected Date] <= MAX(TODAY(),[Selected Date Released]) && [Available Hours new] >= [Selected Daily Hours] ,1,0)
Applied the conditional formatting through outstanding flag on the entered hours by rule. It worked