We don't have any functionality for conditioning labels. Best I can suggest is you'll need to consider implementing that yourself using some custom JavaScript. The below will at least condition it in profile edit and profile view though using IF substitutions in the label.
Code:
[cb:if cb_profiletype="individual"]Name[cb:elseif cb_profiletype="company"]Company[/cb:elseif][cb:else]Name / Company[/cb:else][/cb:if]
In this example if cb_profiletype is set to individual it will display Name. If set to company it will display Company. If not set at all it will display Name / Company.
Again, this won't dynamically update on registration or anything like that. You'd need some custom JavaScript to detect that your radio field has changed then update the label accordingly. You can add your custom JS to CBs registration page using a Code action on the onBeforeRegisterFormDisplay trigger.