Is this possible with CB Query Field (5.0.4)? Please let me know asap for a quick purchase.
Yes, the query validation can query against your custom database to validate a fields value against the columns of your table. Using CB Query Field you can query for the name based off the number.
However, the query field isn't going to update its value dynamically when you change your number field. For that you need CB Core Fields Ajax and its Update On functionality, which basically refreshes a field when another field changes its value.