The standard searched CASE expression is supported. When dragging a Searched Case into a variable, the following tree element is created.
Variable Creation > Input > Variables: SQL Elements pane - Case > Case - Searched

The searched CASE statement is built up by supplying one or more conditions within the Conditions folder. Each time a Condition is added, the following tree element is created.
Variable Creation > Input > Variables: SQL Elements pane - Case > Case - Searched > Conditions

which evaluates to:
CASE WHEN condition/expression THEN expression END
Columns and/or other expressions can be moved over the (empty) branches of the tree.
The ELSE expression is optional, and if not specified, the expression will return NULL if no WHEN conditions evaluate to TRUE. At least one WHEN/THEN condition is required with the CASE expression.
There are no special properties for the Searched Case function.