Simple UpdateCursor onto new field

Question

I'm trying to use the updateCursor in ArcGIS Pro 2.4 to populate a new field in my table and can't get it to work. Situation is like this: I have a table with many fields. One of those fields is "Status1". This field contains text values (for example: "No", "Yes", "ABC123" or nulls). What I need to do is to take everything that is a "No" and put it as "Not Completed" while the rest would be just "Completed" in a new field called "Status2"

My code probably is completely wrong. I have no idea how to access a specific field within a featureclass.

with arcpy.UpdateCursor(FC, fields) as cursor:
    for row in cursor:
        if Status1[0] = 'No':
            Status2[0] = 'Not Completed'
        else:
            Status2[0] = 'Pending'
    cursor.updateRow(row)

Answer 1

As mentioned in the comments make use of a data access cursor. Use the two status fields as your field input and perform an if logic check.

with arcpy.da.UpdateCursor(FC, ["Status1", "Status2"]) as cursor:
    for stat1, stat2 in cursor:
        if stat1 == "No":
            stat2 = "Not Completed"
        else:
            stat2 = "Completed"
        row = (stat1, stat2)
        cursor.updateRow(row)