So I ran into this exact headache last year when I started finishing off my basement. Old wrapped pipe running along the wall, and the previous owner had slapped a couple labels on it that flat-out contradicted each other. One said the wrap was safe, the other warned about asbestos. I stood there staring at it for a good ten minutes wondering who taped wich one on and when.
Here's what I learned the hard way. Don't trust either sticker, beacuse you have no idea who wrote them or when. Labels fade, peel off, or get swapped during old repairs. The only thing that settles it is a lab test. I called an asbestos inspector who came out, took a small sample, and had results back in a few days for a couple hundred bucks. Before that testing was done, I left the pipe completley alone. No cutting near it, no sweeping dust around it, nothing. Turns out mine was clean, but if it hadn't been I was looking at a licensed abatement crew doing the removal, not me in a dust mask from the hardware store. That part is not a DIY job no matter what YouTube says. Get it tested first, then decide. Cheapest few hundred dollars I ever spent on the project.