Is it possible to trigger a Pipeline when a formula field changes on record update?

This is the solution here. As long as you don't need it to instantly have a date just do it on a schedule. Then you search for records in the table with your formula field and when everything lines up and the formula field is checked it can input a date. Just make sure you do some error checking like making sure the date is blank first. This is the way I do triggers off formula fields too.