I've gone through the page of definition of "context" on Cambridge Dictionary. There is no item similar to "on context".
I guess some of hits on Google Ngram might be part of "depend on context", but I don't know how to verify that suspect.
So, is it grammatical to say "on context"? If yes, what's the meaning?
I assume most answerers on ELL are native English speakers. Therefor, their answers might could be taken as examples, here is one of them
Notice that the people who generally speak such sentences in American movies are those who are marginalized, most often without an education and/or proper and systematic knowledge of English.
I hope I have answered your question on context and interpretation
The answer is "yes," but your question is woefully short on context, so, unless one is familiar with research publications and conference proceedings, the meaning you suggest wouldn't necessarily be the first that comes to mind.