Avoid confusion with default "Link image to"

Problem/Motivation

Default media image formatter has a "Link image to" setting with options "nothing", "content" and "file". On the other hand media_parent_entity_link displays its own option "Link to parent entity (if applicable)". This is disturbing from a user's point of view to not know which link setting has precedence on the other. Also "if applicable" is not very clear... when and where is it applicable or not ? If the option is proposed we expect it should be applicable.

Steps to reproduce

Proposed resolution

Replace (if applicable), by (if media has a parent, this will override the link settings above, otherwise it will have no effect).
A bit long but I think it makes thinks clear until a shorter idea.

Remaining tasks

User interface changes

API changes

Data model changes