Custom taxonomy parent from another taxonomy

I was searching for an answer of the same question, and found a question on SE, that contains the answer: https://stackoverflow.com/a/40868654

In WordPress 3.7, released in 2013, a filter was added that allows manipulating the arguments, used to get the list of terms for the parent dropdown. The filter was also applied on the edit term form at the end of 2014.

So, hooking to the taxonomy_parent_dropdown_args filter allows changing the taxonomy that provides parents. Something like that:

<?php
add_filter( 'taxonomy_parent_dropdown_args', 'alter_parent_taxonomy', 10, 2 );

function alter_parent_taxonomy( $args, $taxonomy ) {

    if ( 'models' != $taxonomy ) return $args; // no change

    $args['taxonomy'] = 'makes';
    $args['depth'] = 1;

    return $args;
}
?>

I haven’t tried this yet, as I am still doing my initial research for the project.