Thanks a million once again for your help. I went with your suggestion, but half-way through it I got too attached to the idea that there had to be a way to do it without "cheating". After lots of Googling, I'm happy to report that I've solved my issue. It was actually dead simple.
All I had to do was follow this tutorial. Except, instead of a Cloner, I just used the Fracture object. I also used a Box Field falloff on the Inheritance effector for the "reveal" effect.
I've attached my project file in case you're curious to check it out. It works exactly as I imagined it initially.
Thanks a ton once again! 🙂
VoxelCharacterHologramFixed.zip
JustinLeduc's post in Hologram effect - Reveal object from 1 condensed point was marked as the answer