Formula needed to show a URL link from another field

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4 - Data Explorer
4 - Data Explorer

I am attempting to have a field that will either show that a task is Scheduled or display a [Mark as Scheduled] URL Hyperlink.  I have fields for Scheduled (checkbox) and custom URL field.

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IF({Scheduled}, 'Scheduled', {URL field})

Note: this will display the URL, not a "Mark as Scheduled" hyperlink as formula fields cannot output rich text.