As of now, Smart Lock settings are completely hidden if Smart Lock is prohibited by enterprise policy: https://cs.chromium.org/chromium/src/chrome/browser/ui/webui/settings/chromeos/easy_unlock_settings_handler.cc?q=easyUnlockAllowed&sq=package:chromium&dr=C&l=45

Instead, they should appear, but be greyed out and have a small Enterprise icon that explains the feature has been restricted by that user's admin.

We must also ensure that Smart Lock's enterprise policy pref follows Dynamic Refresh.

Tether does a similar thing here: https://cs.chromium.org/chromium/src/chrome/browser/resources/settings/internet_page/internet_subpage.html?q=tether+file:%5Esrc/chrome/browser/resources/settings/internet_page/+package:%5Echromium$&dr=C&l=222