Symptoms
During the deployment using SP2013 PandD we are seeing The following error.
"Missing Dependency (Managed Metadata)".
Diagnoses
This has been diagnosed as a bug and has been addressed in the latest 4.6.9 smartforms and PandD roll-ups.
Resolution
After applying the roll-ups, the issue was not happening anymore. If you run into this issue on 4.6.9, please log a support ticket and request the latest smartforms and PandD rollups.