LED Status Readback Circuit
If LED_ON is Low, Q1 will be off (not conducting), and LED_STATUS will be a little over 3 volts.  With no current, R2 will pull the LED anode up to +5V.  Due to the typical 1.8 volt forward voltage of the LED, LED_STATUS will be pulled above 3 volts - exact value will depend on whatever is connected to LED_STATUS.
By the way, your use of &quot;open&quot; and &quot;closed&quot; for the transistor is confusing, as an open switch does not conduct, and a closed switch does conduct - you are using &quot;open&quot; to mean &quot;conducting&quot;