A                B             C
Строка1    51^52      Знач1^Знач2
Строка2    53^54      Знач3^Знач4

A                B             C
Строка1      51      Знач1
Строка1      52      Знач2
Строка2      53      Знач3
Строка2      54      Знач4

A                B             C
Строка1        51^52^53      Знач1^Знач2^Знач3

  ;with OKSO_XML
  as
  (
  select KOD, NAME1, cast('<xml><item>'+replace(KODKV,'^','</item><item>')+'</item></xml>' as xml) as KODKV_XML
                   , cast('<xml><item>'+replace(NAMEKV1+NAMEKV2+NAMEKV3,'^','</item><item>')+'</item></xml>' as xml) as NAMEKV_XML
                   , NOMDESCR, NOMAKT, STATUS, DATA_UPD
  from [Pluto].[dbo].[okso]
  where KOD<>''
  )
  
    select okso1.KOD, okso1.NAME1,  kod.kv.value('.','varchar(100)') as KODKV,
           name.kv.value('.','varchar(100)') as NAMEKV,
           okso1.NOMDESCR, okso1.NOMAKT, okso1.STATUS, okso1.DATA_UPD
    from OKSO_XML okso1
    cross apply okso1.KODKV_XML.nodes('xml/item') kod(kv)
    cross apply okso1.NAMEKV_XML.nodes('xml/item') name(kv)

 select okso1.KOD, okso1.NAME1,  kod.kv.value('.','varchar(100)') as KODKV,
           name.kv.value('.','varchar(100)') as NAMEKV,
           okso1.NOMDESCR, okso1.NOMAKT, okso1.STATUS, okso1.DATA_UPD
    from OKSO_XML okso1
    cross apply (select 1 as Number
                 union all 
                 select 2 as Number
                 union all 
                 select 3 as Number
                 union all 
                 select 4 as Number
                 union all 
                 select 5 as Number
                 ) p
    cross apply okso1.KODKV_XML.nodes('/xml/item[position()=sql:column("Number")]') kod(kv)
    cross apply okso1.NAMEKV_XML.nodes('/xml/item[position()=sql:column("Number")]') name(kv)
    order by okso1.KOD, p.Number

A                B             C
Строка1        51^52^53      Знач1^Знач2^Знач3

declare @t table (A varchar(10), B varchar(50), C varchar(50))

insert into @t (A, B, C)

select 'Строка1',    '51^52^53',   'Знач1^Знач2^Знач3' union all
select 'Строка2',    '53^54',      'Знач3^Знач4'
---

;with cte as
(select A, 
cast('<row><b>'+replace(B, '^', '</b><b>')+'</b>'+
'<c>'+replace(C, '^', '</c><c>')+'</c></row>' as xml) as X
from @t)

select t1.A, z.xz1, z.xz2
from cte t1
cross apply 
	(select t.y.value('(b)[1]', 'varchar(10)') as xz1, t.y.value('(c)[1]', 'varchar(10)') as xz2
	from t1.X.nodes('/row') as t(y)) z
where z.xz1 is not null and z.xz2 is not null 

union all

select t1.A, z.xz1, z.xz2
from cte t1
cross apply 
	(select t.y.value('(b)[2]', 'varchar(10)') as xz1, t.y.value('(c)[2]', 'varchar(10)') as xz2
	from t1.X.nodes('/row') as t(y)) z
where z.xz1 is not null and z.xz2 is not null 

union all

select t1.A, z.xz1, z.xz2
from cte t1
cross apply 
	(select t.y.value('(b)[3]', 'varchar(10)') as xz1, t.y.value('(c)[3]', 'varchar(10)') as xz2
	from t1.X.nodes('/row') as t(y)) z
where z.xz1 is not null and z.xz2 is not null 

order by 1, 2, 3

A          xz1        xz2
---------- ---------- ----------
Строка1    51         Знач1
Строка1    52         Знач2
Строка1    53         Знач3
Строка2    53         Знач3
Строка2    54         Знач4