IF Column A = True then Status = Archived, else status can be any value (New, In Review, etc)

I've got the formula working for Archived, below. However I want it to work that if it's not selected a user can manually select any status in the drop down (New, In Review, Review Completed).

=IF([Informational Only]@row = "True", "Archived")

If I keep it this way, when I select a different status than Archived it wipes out the formula from the column.

What I'm trying to achieve is having the status set to Archived if the Informational Only checkbox is selected when submitting a new item via a form. If the checkbox isn't selected the status defaults to New and then the team will manually update the status when reviewing it.

I also don't need the other statuses to automatically be updated. I just need Default of New when submitting via form which I achieved by default value in form.

I have different workflows setup based on the Informational Checkbox and the status.

Please help! :-)

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