Seleccionar consulta seleccionar en función de una prioridad

RANGO , en lugar de ROW_NUMBER, porque desea que los vínculos (aquellos con el mismo valor B) tengan el mismo valor de clasificación:

WITH summary AS (
  SELECT t.*,
         RANK() OVER (PARTITION BY t.id 
                          ORDER BY t.value_type DESC) AS rank
    FROM TABLE t
   WHERE t.value_type IN ('A', 'B'))
SELECT s.id,
       s.value,
       s.value_type,
       s.data
  FROM summary s
 WHERE s.rank = 1

Versión no CTE:

SELECT s.id,
       s.value,
       s.value_type,
       s.data
  FROM (SELECT t.*,
               RANK() OVER (PARTITION BY t.id 
                                ORDER BY t.value_type DESC) AS rank
          FROM TABLE t
         WHERE t.value_type IN ('A', 'B')) s
 WHERE s.rank = 1

WITH test AS (
   SELECT 1 AS id, 'B' AS value_type
   UNION ALL
   SELECT 1, 'B'
   UNION ALL
   SELECT 1, 'A'
   UNION ALL
   SELECT 2, 'A'
   UNION ALL
   SELECT 2, 'A'),
     summary AS (
   SELECT t.*,
          RANK() OVER (PARTITION BY t.id 
                           ORDER BY t.value_type DESC) AS rank
     FROM test t)
SELECT *
  FROM summary
 WHERE rank = 1

obtengo:

id   value_type  rank
----------------------
1    B           1
1    B           1
2    A           1
2    A           1