This paper completes the analysis initiated in the companion work arXiv:2403.02283 — referred to as Paper I — by showing how Vasiliev’s 4D higher-spin gravity (HSG) and 3D coloured conformal matter fields coupled to conformal higher-spin gauge fields and colour gauge fields (coloured conformal HSG, or CCHSG) emerge as consistent reductions of a common parent model. The latter is a Frobenius-Chern-Simons model with superconnection valued in a fractional-spin extension of Vasiliev’s higher-spin algebra, and was defined and studied in Paper I. Here, we i) realize HSG as a subcase of a more general 4D reduction, describing HSG coupled to coloured, fractional-spin matter, which we refer to as 4D fractional-spin gravity; ii) study the CCHSG model, in particular exhibiting the crucial role played by novel colour gauge fields in coupling conformal matter to conformal HSG, thereby completing the models due to Vasiliev and Nilsson; iii) extract conformal currents and composite coloured sources in an expansion of the CCHSG model around 3D Minkowskian leaves; and iv) compare our results with Vasiliev’s holography proposal of arXiv:1203.5554. The common origin of HSG and CCHSG, besides relating the two models directly, is the starting point for establishing the holographic correspondence between the two models via overlap conditions, to be presented separately.