I did some more research. This is what the Chicago Manual of Style has to say:

Noun form usually open; adjective form hyphenated before a noun. Some permanent compounds closed (see 7.78).

decision making/ a decision-making body; mountain climbing/ time-clock-punching employees/ a Nobel Prize–winning chemist (see 6.80) bookkeeping/ caregiving/ copyediting

However, I am still lost with examples like "meaning-making" or to add another one:

I really like novel reading OR I really like novel-reading.

How do I decide which one is correct? The rule states, if I understand it correctly, no hyphen. In the majority of cases (corpora) it says novel-reading with hyphen.