function hide_product_if_have_tag( $can_access, $user_id, $post_id ) {

    if ( $post_id == 123 && wp_fusion()->user->has_tag( 'Tag Name' ) ) {
        $can_access = false;
    }

    return $can_access;

}

add_filter( 'wpf_user_can_access', 'hide_product_if_have_tag', 10, 3 );