DAX to pick up value

Well, interesting question! I've copied your dataset into PBI and got to work. This seems to work;

MaxSeqCurrentApproved = CALCULATE(SUM('Table'[Cost]), FILTER('Table', 'Table'[Seq] = CALCULATE(MAX('Table'[Seq]), FILTER('Table', 'Table'[CurrInd] = "Current" && 'Table'[Status] = "Approved"))))

Explaination:We take the sum of Cost -> although it is just one row

with a Filter on the table, -> here is the tricky part

where Seq = the Max seq with a filter -> this will work where the context is sliced by Item btw,

where CurrInd = Curent AND Status = Approved -> having the Seq with Current and Status set correctly is enough, we don't need a second filter on these fields.

Ain't pretty but it works in my test (which is a matrix with rows=ItemID (not summarized) and values=Measure) 🙂

Please mark as solution if this answers your question.