For better understanding let's think of two dropdown/picklist attributes like "Country" and "State".
If I select "Country" value as "USA" from dropdown list then the attribute "State" will be marked as mandatory attribute and also the State dropdown will be populated with all the states corresponding to USA. 

Thanks In Advance.

hello - which product are you referring to?

Product is - Content Manager Desktop client Or Content Manager Administrator. 

ok thanks. i will move it to the content manager forum community.microfocus.com/.../discussions

Hi Sonam Kumari 

Whilst you can create hierarchical lists there is no dependency between separate fields OOTB without customisation.
I answered a similar question recently  How to add custom functionality to a form field - Content Manager User Discussions - OpenText Content Manager (microfocus.com)  that provides additional information .

You could create a single Country_State lookup hierarchy providing the ability to navigate to the required combination, and then by configuration have the full combination as the value displayed.