You can try using SharePoint JSON column formatting like below for your Action column to open the forms based on "Status":
{
"$schema": "https://developer.microsoft.com/json-schemas/sp/v2/column-formatting.schema.json",
"elmType": "a",
"txtContent": "=if([$Status]=='Accepted' || [$Status]=='Rejected', 'View', 'Edit') + ' Form'",
"attributes": {
"href": "=@currentWeb + '/Shared Documents/Forms/' + if([$Status]=='Accepted' || [$Status]=='Rejected', 'dispform', 'editform') + '.aspx?ID=' + [$ID]",
"target": "_blank"
}
}
Where:
[$Status] is an internal name of your column in SharePoint list in this format: [$InternalNameOfColumn]. You can get the internal name of your SharePoint list columns by following this article: How to find the Internal name of columns in SharePoint Online?
Shared Documents is the name of document library you can find from library URL: Check SharePoint Online List/Library URL Name.
Output:

Additional:
You can try using SharePoint JSON column formatting like below for your Action column to open the "Properties" form for all conditions:
{
"$schema": "https://developer.microsoft.com/json-schemas/sp/v2/column-formatting.schema.json",
"elmType": "button",
"txtContent": "Open Form",
"customRowAction": {
"action": "editProps"
}
}
Output:
