Dynamic Script Method/Functions

Good afternoon,

We are trying to tackle a problem wherein we have a table of requirements or criteria that we want to reference to determine eligibility for something else. In order to accomplish this we decided to have the table store two text values: one the script that we want to run for that specific requirement, and two the error response if the script element in question returns false.

In order to test and figure out how to implement we created a record in the table and stored a simple script as text on it:

var TestBool = false;
 
if(TestBool)
{
Set("Parameter1", true);
}
else
{
Set("Parameter1", false);
}

We can pass this text into a Script Element as a string - but have no idea how evaluate it as a method or function from that point (apologies if I am using the wrong terminology, low-code only so I'm stretching a bit here to try and accomplish this.)

Can anyone advise how I would take this string and evaluate/execute it as a script element?

Thanks so much for your help!