Hi Tina, I am so glad you asked our opinion on this. You're first instinct might be to keep your son home but like everyone so far has stated, you have to let him be a kid too, not just a kid with CF.
If he does treatments twice a day, just have him do his treatment before he goes over. If he's supposed to go afterschool, make a deal with him... he can go but you will need to pick him up at say 5:00 for the 45min. or an hour it takes to do his treatment then you will take him back so he doesn't miss dinner with his buddy. Or tell him, not immediately after school but as soon as he's done with his treatment. Some of the fun is getting to go home with your friend though. Altering the schedule is not that big a deal when it's just every once in a while. Then do his AM treatment when he gets home. Even if it's at noon. But definantly set a time he's got to get home, for elementary school age, 10AM is reasonable. Unless he's staying at a best buds house and you know the parents real well, I wouldn't ask them to do CPT or monitor treatments. That's too much to ask.
When you tell the mom your son takes enzymes, ask her if she doesn't mind making sure he takes them. That it's not a big deal he just needs them to digest his food. Plain and simple, if he doesn't take them he can get a bad stomach ache, and really smelly poots. Keep it simple, no need to go into extreme detail. Most moms will not have a problem with it.Since your son is old enough for a sleep over then I am assuming he can swallow his pills, and he knows he needs to take them. His friends will be amazed he can swallow them and watch, saying "MAN, I can't even do that!" OK, my daughter's friends did anyway. Reassure the mom too that if one of the other kids gets ahold of the enzyme that it will not harm them. Normal kids already have this enzyme, yours just doesn't produce it anymore or enough of it. Also, if your son has a cough (my girls cough would come and go) be sure to let the mom know that it is not contagious.
This is the beginning of growing up and there will be so many more ????'s about whether to let them go or not. Please, please, please, let him do as much as he can. Camping, Boy Scouts, sleep overs, he will learn to fit his treatments into a schedule that allows him to do everything he can. My girls were in Girl Scouts and they both went to resident camp. When my oldest went and I volunteered as a camp counselor that year, I ONLY saw her when it was time for her treatment and sometimes at the dining hall but we made a deal that I would not address her uless she addressed me first, she was 10. We only had a nurse at camp and I nor the clinic was comfortable with that. Boy Scout camp has a physician or PA at their camp. Unless things have changed, I know this because my husband was the camp PA one week a year for three years in AZ. My youngest went to GS camp while we lived in Germany. She went alone, with her friends for a week. They both had a great time. They can do it ALL, you just have a little extra preperation to do.