Вы можете подать заявку, т.е.
df = pd.DataFrame({'A':[[1,2,3,4,5],[1,2,3,4]],'B':[1,2]})
A B
0 [1, 2, 3, 4, 5] 1
1 [1, 2, 3, 4] 2
# df.apply(lambda x : np.array(x['A'])[x['B']],1)
# You dont need np.array here, use it when the column B is also a list.
df.apply(lambda x : x['A'][x['B']],1) # Thanks @Zero
0 2
1 3
dtype: int64