This is the inverse of your request - I'll leave it as an exercise to the reader how one would get the opposite.
Basically, you want check if the value of some cell is in the list of valid values. If you were computing this as a sheet value, you would use =COUNTIF. For conditional formatting, the same applies:
=COUNTIF({LOOKUP_RANGE_ABS_REF}, {VAL_TO_CHECK})
=COUNTIF($D$2:$D, B2)
Here's the formula in action:
Note that T-3000 and wheels are not in the "Part List" column, and thus do not match.
Comparing to different worksheet within same workbook
If the data to be compared against is not in the same worksheet, the range reference {LOOKUP_RANGE_ABS_REF} must be wrapped in a call to INDIRECT(), i.e.
=COUNTIF(INDIRECT("{OTHER_WORKSHEET_NAME}!{LOOKUP_RANGE_ABS_REF}"), {VAL_TO_CHECK})
=COUNTIF(INDIRECT("some sheet name!$A$2:$A"), B2)
As per official documentation,
Formulas can only reference the same sheet, using standard notation "(='sheetname'!cell)." To reference another sheet in the formula, use the INDIRECT function.
This is also noted in several other SO questions (albeit using different core formulas besides COUNTIF):
Missing from those answers is the caveat that the indirection you've just added is not robust to changes to the value of {OTHER_WORKSHEET_NAME}, e.g. you (or some other editor) changed the actual name of the worksheet.
Unlike traditional entered-on-the-worksheet formulas, there is no "run-time" reference link that will update the static text value you had to enter when you created the Conditional Format rule. This lack of reference-updating is actually one of the useful features of INDIRECT(), so don't expect it to ever change.
Furhtermore, the reference break will not be immediately evident. Any items that were added to your formatted range after the name change had their format computed using the broken reference, but any items added before the name changed will keep their current format. Only when the actual range that is wrapped by INDIRECT is edited will any pre-existing conditional formats be recomputed. Thus, you may not notice that the sheet was renamed until you add a new valid part to the list.
