2 official rulings from Bandai, last ruled Mar 28, 2024. Straight answers to how this card actually resolves.

Do I have to choose 2 cards with [Lucemon] or 2 cards with the [Royal Knight] among the revealed cards to add to my hand for this card's <On Play><When Digivolving> effect?
No, the 2 cards you add to your hand are cards that fulfill either of the conditions: a card with [Lucemon] or a card with the [Royal Knight]. Therefore, in addition to the combinations from your question, you can also add 1 card with [Lucemon] and 1 card with the [Royal Knight] to your hand.
Ruled Mar 28, 2024
Can I use this card's <On Play> <When Digivolving> effect to add a card to my hand when only 1 card with [Lucemon] or the [Royal Knight] is among the 5 revealed cards?
Yes, you can. In such cases, you add as many cards to your hand as possible.
Ruled Mar 28, 2024
Got a line that uses Dynasmon? Map it in the builder and share it with a link.
Questions and answers are Bandai's official rulings, collected and translated by the DigimonCardGame Wiki community and reused here under CC BY-SA. Card names and card text are © their respective publishers; Combalo is not affiliated with Bandai.