I set up a chain of command blocks to detect a bone on the ground then say hi as that bone, then kill that bone, then give the player another bone in their inventory. The bone seems to be in a weird invisible state until updated (see video). The command blocks are in a chain together with the flowing settings:

1: Repeat Unconditional Always Active : /execute as @e[type=item,nbt={Item:{id:"minecraft:bone"}}] run say hi

2: Chain Unconditional Always Active, /kill @e[type=item,nbt={Item:{id:"minecraft:bone"}}]

3: Chain Conditional Always Active, /give @p minecraft:bone