Oracle 21c

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with MY_TABLE (technical_id, asset_type) as (
select '1111', 'NOTIONALCR' from dual union all
select '1111', '50000'      from dual union all
select '2222', 'FWDNOTLCR'  from dual union all
select '2222', '50000'      from dual union all
select '3333', '50000'      from dual union all
select '3333', 'DUMMY'      from dual
),
MAP_RECRF_ASSET_TYPE (application, asset_type, priority) as (
select 'SW', 'NOTIONALCR', 1 from dual union all
select 'SW', 'NOTIONALDB', 1 from dual union all
select 'SW', 'FWDNOTLCR' , 2 from dual union all
select 'SW', 'FWDNOTLDR' , 2 from dual union all
select 'SW', 'SWOFFBALCR', 2 from dual union all
select 'SW', 'SWOFFBALDR', 2 from dual union all
select 'SW', 'SWFWNOTLCR', 2 from dual union all
select 'SW', 'SWFWNOTLDB', 2 from dual union all
select 'SW', '50000'     , 3 from dual
)
SELECT technical_id, asset_type
FROM   (
  SELECT t.technical_id,
         t.asset_type,
         ROW_NUMBER() OVER (
           PARTITION BY t.technical_id
           ORDER BY a.priority
         ) AS rn
  FROM   MY_TABLE t
         INNER JOIN MAP_RECRF_ASSET_TYPE a
         ON t.asset_type = a.asset_type
  WHERE  a.application = 'SW'
)
WHERE  rn = 1;

TECHNICAL_ID	ASSET_TYPE
1111	NOTIONALCR
2222	FWDNOTLCR
3333	50000