@kschell I did some testing with this about a year ago so hopefully nothing has changed 😉
I was really impressed with Canvas on this as they have all the coding in place to compare mastery paths and module requirements so that if a student is exempted on something because of their mastery path, that meets the module requirements.
For example (making this very simplistic), I start my module with a quiz that sets you on 1 of 3 paths.
Path 1 you start with assignment 1 and then must complete assignment 2 and assignment 3 and have module requirements in place to ensure you complete assignment 1 before accessing 2, etc.
Path 2 you start with assignment 2 (skipping assignment 1) and then move to assignment 3. Again, I still have the same module requirement in place but Canvas detects their path exempted them from assignment 1 so it lets them move on.
Path 3 starts them with assignment 3 and all the facts of path 2 still hold true.
So, you create one set of requirements and then let mastery paths manage the path.
Not sure I answered all your points so feel free to reach back out and I will attempt to answer.
Hope that helps!
-Nick