<div class="Checkout-step" data-bind="visible: canVisibleBlock()">
...
</div>

define(
    [
        'jquery',
        'ko',
        'Magento_Checkout/js/model/quote',
        'uiComponent',
    ],
    function ($, ko, quote, Component) {
        'use strict';

        var show_hide_custom_blockConfig = window.checkoutConfig.show_hide_custom_block;

        return Component.extend({
            defaults: {
                template: 'Module_Name/checkout/shipping/additional-block'
            },
            canVisibleBlock: function () {
                if (show_hide_custom_blockConfig) { // returns true when enabled in admin
                    if (quote.isVirtual()) {
                        return true;
                    }
                }

                return false;
            }
        });
    }
);