I have what I think is a standard formula, which is behaving differently depending on which Excel version I use, Excel 365 or Excel 2019
=IF(F5=$M$1;IFERROR(IF(AND(IFERROR(FIND("CONV";B5;1);"NY");F5=$M$1);"KONV");IF(F5=$M$1;"NY";"ORG"));"ORG")
In the two screenshots below, Excel version 2019 is on top, and Excel version 365 is beneath it. In the first screenshot everything is the same, but in the 2nd picture, "NY" becomes an error in Excel 2019 (which is correct and what I want), but in Excel 365 I get a wrong TRUE.


My issue isn't to fix the formula so it works. Rather, I want to know why the difference between Excel 365 and Excel 2019 is there in the first place.