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 = 'fr' 
  AND lang.name IN (
    'abt__ut2.add_to_wishlist.tooltip', 
    'add_to_wishlist', 'abt__ut2.add_to_wishlist.tooltip', 
    'add_to_wishlist'
  )

Query time 0.00031

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": 2,
          "filtered": 100,
          "index_condition": "lang.lang_code = 'fr' and lang.`name` in ('abt__ut2.add_to_wishlist.tooltip','add_to_wishlist','abt__ut2.add_to_wishlist.tooltip','add_to_wishlist')"
        }
      }
    ]
  }
}