macrospect
Thanks again for your follow up. You're correct the attribute Version="Matchinstalled" matches the version number of ProPlus when you're adding the second product such as Project/Visio. The purpose of this attribute is to allow an IT Admin to run a second install with a supported Product ID and not have to download the full office source. Prior to this attribute IT Admins would have to download the full Office source content to add the secondary product and in some cases it was as small as 100MB.
To answer your second question about MSI Condition the design of this attribute was purposed for Dynamically matching the MSI version preinstalled on the device. ie: If User A had Office Project and User B only has Office you can use one XML to deploy to both and achieve the same result at the end. User A will get ProPlus and ProjectProRetail(Subscription) and User B will get ProPlus. I saw you called out AccessDB Runtime which is a supported condition. InfoPath although has been discontinued and remove from our 2016 Products and is only available as a download located here.
In closing, your question regarding what happens if the MSI is already removed? The MSI Condition attribute will not be able to detect which Product Code for MSI was on the device and it will not be included in the install.