I am not able to obtain the newly added managed metadata field by internal name using CSOM. However, the field the related hidden text field is available with the value. The following statement throws Microsoft.SharePoint.Client.PropertyOrFieldNotInitializedException:
Following is the code to get list items
List lst= context.Web.Lists.GetByTitle(<ListName>);
CamlQuery camlQuery = new CamlQuery
{
ViewXml = @"<View>
<Query>
<Where>
<Or>
<Eq>
<FieldRef Name='SCStatus' />
<Value Type='TaxonomyFieldType'>Approved</Value>
</Eq>
<Eq>
<FieldRef Name='SCStatus' />
<Value Type='TaxonomyFieldType'>UpdateRequested</Value>
</Eq>
</Or>
</Where>
</Query>
</View>";
};
ListItemCollection listItems = lst.GetItems(camlQuery);
context.Load(listItems);
context.ExecuteQuery();
Following statement to fetch field value
(listItem[<InternalName>] as TaxonomyFieldValue).Label
Please note that other taxonomy fields are available just fine.