SQL Server 2019

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DECLARE @V_MY_VAR VARCHAR(50) = NULL;
IF ISNULL(@V_MY_VAR,'X') = 'HELLO'
    BEGIN
        PRINT 'INSIDE IF - '+ @V_MY_VAR;
    END;
ELSE
    BEGIN
        PRINT 'INSIDE ELSE - '+ @V_MY_VAR;
    END;
 


DECLARE @V_MY_VAR VARCHAR(50) = NULL;
IF ISNULL(@V_MY_VAR,'X') = 'HELLO'
    BEGIN
        PRINT 'INSIDE IF - ';
    END;
ELSE
    BEGIN
        PRINT 'INSIDE ELSE - ';
    END;
INSIDE ELSE - 


DECLARE @V_MY_VAR VARCHAR(50) = NULL;
IF ISNULL(@V_MY_VAR,'X') = 'HELLO'
    BEGIN
        PRINT 'INSIDE IF - '+ ISNULL(@V_MY_VAR,1);
    END;
ELSE
    BEGIN
        PRINT 'INSIDE ELSE - '+ ISNULL(@V_MY_VAR,2);
    END;
INSIDE ELSE - 2