In Britain, whilst it is 'de rigeur' in Universities to hyphenate adjectival phrases, such as 'a time-honoured custom', 'a quick-witted response', 'an egg-headed professor' etc., there seems to me no such requirement for adjectival predicates, though I tend to do so on an ad hoc basis if it feels right.I would say, if in doubt hyphenate. I don't think one would be criticised for too much hyphenation in this way. At least that seems to be the case in the UK.
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