-- This checks if the player is enabled or not so long as you tell it which player you're checking for
local function PlayerExists(pn)
	return GAMESTATE:IsPlayerEnabled(pn)
end
local function PlayerHuman(pn)
	return GAMESTATE:IsHumanPlayer(pn)
end

local TextStuff = Def.ActorFrame {

	-- hide_if is some SM5 function that does "visible,false" if whatever you put there is true
	LoadFont("Common normal") .. {
		Text="P1";
		InitCommand=cmd(xy,SCREEN_LEFT+25,SCREEN_BOTTOM-120;hide_if,not PlayerExists(PLAYER_1) and not PlayerHuman(PLAYER_1);

	};
	LoadFont("Common normal") .. {
		Text="P2";
		InitCommand=cmd(xy,SCREEN_LEFT+25,SCREEN_BOTTOM-60;hide_if,not PlayerExists(PLAYER_2) and not PlayerHuman(PLAYER_2);
	};
}

return TextStuff