Separate official project status updates from update feed

For management reports, we use the Condition Updates field to show the latest project status.

However, that restricts the project owner to only use the project updates to report overall project status (with reporting up lens). They cannot use it to record meeting notes, or team notifications because if that was the most recent entry, that shows up on the management reports.

I'd like the project status that reports up to be separate from the day-to-day updates a project owner may need to make.