Comment by phire
This is what ARM's Thumb-2 has with its various If-Then-Else instructions. One instruction can skip upto four subsequent instructions if the condition fails.
It can also do else clauses, instructions that get executed only when the condition fails.
I'm not sure how well this approach would work on modern CPUs; These days, Thumb-2 is generally only used on small microprocessors, and it's notable that ARM64 didn't carry that feature forwards.