A smart computer group with the criteria for the Package for the app being installed, the Application Title or the Application Bundle ID, so that the group is populated by devices which have the app. To force the group to update quicker you could update the inventory in the policy which installs the app…

Use this smart group as the scope for your configuration profile.

As ​@dsavageED said, you need a smart group to pick up on if the app is installed and scope the configuration profile to that. Adding an inventory check in to the app’s policy will speed this up but we are talking about turning hours in to possibly minutes. Ideally you want to target the configuration profile to all devices in scope for the app so its there if they install the app. Having configuration profiles installed for apps that are not yet installed does not hurt anything.