Earlier quoted context omitted.
You can often have multiple dependencies. Library A uses Boost and requires an older version of GCC. Library B uses Boost and requires the newer version of Boost. You want to use libraries A and B in the same project, what now?
I've never worked in a big C++ code base or had that issue but could you library B in a namespace?
Even more fun when two dependencies both use different versions of the same lib.
I much prefer bringing everything into our source tree up front and doing the build ourselves rather than just linking a prebuilt lib but sometimes you don't have that option.