Please use following formula in the JSON formatting.
{
"$schema": "https://developer.microsoft.com/json-schemas/sp/v2/column-formatting.schema.json",
"elmType": "div",
"txtContent": "=if([$InspectionType] == 'Mic Assembly', '[$Product_x0020_Name_x003a__x0020_]', 'NO')"
}
Result:
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