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Once the required link is in the cell, clicking on another cell makes the inserted link live - then clicking the link opens your browser. But the list of hyperlinks must be somewhere on the same sheet.

What I don't know is how to get the data validation part to link to the other sheet holding the hyperlink list.

Perhaps entering the data link manually would be possible, or use a VLOOKUP in the parent cell linking to the list sheet and cell refs or named range.