https://www.mathworks.com/help/matlab/matlab_prog/format-live-scripts.html shows you how you can use the LiveScript editor to insert a hyperlink to a location In your document. At the moment it looks to me as if it might need to be a section, but you could experiment with that.
In https://www.mathworks.com/matlabcentral/answers/525877-link-to-section-in-another-live-script#answer_432787 I show how to cheat a little to be able to create hyperlinks into other files.
Unfortunately, .m files do not permit you to insert hyperlinks in the code. However, oddly enough you can emit hyperlinks to the command window and those hyperlinks can use the techniques I posted in the above link in order to open a particular location in a file.