I have added a field in my Document library called DocStatus. The values can be Editable, Restricted, or Published. I have another library titled Published Documents. When a document in the Document Library is modified and the DocStatus has been changed to Restricted, can I use a workflow to move or copy that document to the Published Documents Library?
Using a SharePoint Designer workflow, a copy is going to be the easier bet (as opposed to a move). If you set the workflow to trigger on changes only, you should be able to use the following logic to achieve your goal:
If you're using SharePoint Online, I would also suggest exploring Flow as a tool to do this (and which should be able to handle this easily).