SELECT 
  lang.name, 
  IF(
    vi_ult_language_values.value IS NULL, 
    lang.value, vi_ult_language_values.value
  ) as value 
FROM 
  vi_language_values lang 
  LEFT JOIN vi_ult_language_values ON vi_ult_language_values.name = lang.name 
  AND company_id = 1 
  AND vi_ult_language_values.lang_code = lang.lang_code 
WHERE 
  lang.lang_code = 'en' 
  AND lang.name IN (
    'select_option_above', 'please_select_one', 
    'select_option_above', 'please_select_one', 
    'na', 'please_select_one', 'select_option_above', 
    'na', 'nocombination', 'select_option_above', 
    'please_select_one', 'select_option_above', 
    'please_select_one', 'na', 'please_select_one', 
    'select_option_above', 'na', 'nocombination'
  )

Query time 0.00050

JSON explain

{
  "query_block": {
    "select_id": 1,
    "nested_loop": [
      {
        "table": {
          "table_name": "vi_ult_language_values",
          "access_type": "system",
          "possible_keys": ["PRIMARY"],
          "rows": 0,
          "filtered": 0,
          "const_row_not_found": true
        }
      },
      {
        "table": {
          "table_name": "lang",
          "access_type": "range",
          "possible_keys": ["PRIMARY"],
          "key": "PRIMARY",
          "key_length": "392",
          "used_key_parts": ["lang_code", "name"],
          "rows": 4,
          "filtered": 100,
          "index_condition": "lang.lang_code = 'en' and lang.`name` in ('select_option_above','please_select_one','select_option_above','please_select_one','na','please_select_one','select_option_above','na','nocombination','select_option_above','please_select_one','select_option_above','please_select_one','na','please_select_one','select_option_above','na','nocombination')"
        }
      }
    ]
  }
}