You can use pandas for this as the data you have resembles a table.
import pandas as pd
df = pd.DataFrame(dummy_list, columns = ["Col 1", "Col 2"])
val_y = df[df["Col 2"] == "Y"]
max_index = val_y["Col 1"].idxmax()
print(df.loc[max_index, :])
First you convert it into a pandas dataframe using pd.DataFrame and set the column name to Col 1 and Col 2.
Then you get all the rows inside the dataframe with Col 2 values equal to Y.
Once you have this data, just select Col 1 and apply the idxmax function on it to get the index of the maximum value for that series.
You can then pass this index inside the loc function as the row and : (every) as the column to get the whole row.
It can be compressed to two lines in this way,
max_index = df[df["Col 2"] == "Y"]["Col 1"].idxmax()
df.loc[max_index, :]
Output -
Col 1 4
Col 2 Y
Name: 1, dtype: object