Does Chest's script detect the interaction, and the Hello Label is Player/Scroll/Label?
One method would be to add a reference to the Label in Chest's script:
var HelloLabel: Label
and set that variable in a script attached to Level-1-0, which is a common ancestor of Chest and Label:
$Chest.HelloLabel = $Player/Scroll/Label
Then Chest's script can call HelloLabel.hide() and HelloLabel.show().
You could also do it with a signal that takes a bool show/hide parameter. The signal could be connected in Level-1-0's script. The signal would be emitted by Chest's script. The signal handler could be anywhere. One choice would be in a script attached to Label.