Check if column contains any value from another table's column

In this particular case, I'd recommend splitting the text into a list and using List.ContainsAny.

Try putting this into the Custom Column box:

List.ContainsAny(
    Text.Split([WBS Status], " "),
    SingleColumn[System Status]
)

Full sample query you can paste into the Advanced Editor to check out yourself:

let
    Source = Table.FromRows(Json.Document(Binary.Decompress(Binary.FromText("i45WcvYJdlEIcg12VAhy9HdWitWJVgpy9VFwdA4IUfD084QLOPmEOMMFgJoU/PydIKJwJSGuzv5gjUqxsQA=", BinaryEncoding.Base64), Compression.Deflate)), let _t = ((type nullable text) meta [Serialized.Text = true]) in type table [#"WBS Status" = _t]),
    #"Changed Type" = Table.TransformColumnTypes(Source,{{"WBS Status", type text}}),
    #"Added Custom" = Table.AddColumn(#"Changed Type", "Check", each List.ContainsAny(Text.Split([WBS Status], " "), SingleColumn[System Status]), type logical)
in
    #"Added Custom"