Well strictly speaking this is not a KNIME question but since we are at it (doing some more Python lately).
Here is a variant with a quick lambda function
import numpy as np
from pandas import DataFrame
mydata = input_table.copy()
# https://datatofish.com/if-condition-in-pandas-dataframe/
mydata['column'] = mydata['ClientNo'].apply(lambda x: 'hello world' if x =='T' else 'no T')
output_table = mydata
Two more variants including a third condition is in the KNIME workflow:
As an additional service since you might want to do more with KNIME and Python here is a basic example of the three main Python inputs and outputs between KNIME and Python, data (you already used that), graphics and prediction models (strictly speaking this pickle thing could also be done by simple Python node but it looks more KNIMEy that way )
kn_example_python_if_then.knwf (22.2 KB)