Do you accept a hacky approach, where we color the empty labels white?
dend %>%
set("leaves_pch", 19) %>%
set("leaves_cex", 2) %>%
set("leaves_col", leafcols) %>%
set("labels_col", ifelse(new_labels == "", "white", "black")) %>%
circlize_dendrogram(dend_track_height = 0.8)