How to use Hyperlink of image in formula field

Make an image clickable and navigate to any page in salesforce.
Use hyperlink function with Image function as below:

If statement to make the formula field empty if value is coming empty

IF( NOT(ISBLANK(PublicUrlText__c) ) , HYPERLINK("https://emaarservice--mysterysho--c.documentforce.com/sfc/dist/version/renditionDownload?rendition=THUMB720BY480&" + PublicUrlText__c, IMAGE("https://emaarservice--mysterysho--c.documentforce.com/sfc/dist/version/renditionDownload?rendition=THUMB720BY480&" + PublicUrlText__c, "No Image", 200,200)),"" )