magento2.3 – Can Google reCAPTCHA be configured to only load when needed?

Without knowing the specific files that are flagged by PageSpeed, I can’t say for sure whether the following addresses your question.

In 2.4.x, if reCAPTCHA is configured for customer login, reCAPTCHA elements are required on every page to facilitate the authentication popup that is displayed when guests click the “Proceed to Checkout” button from the mini-cart (though this may depend on checkout configurations). This behavior is configured in vendor/magento/module-re-captcha-customer/view/frontend/layout/default.xml.

In 2.3.x (which I can’t check directly) vendor/msp/recaptcha/view/frontend/layout/default.xml indicates that reCAPTCHA elements will load on every for the same reason or if it is enabled for newsletter signups.