REPLACE can be used in your situation, and an example of how to use it was in the now deleted answer by @juergen d: Here it is again (slightly changed to better match):
UPDATE EmailTemplates
SET MessageText = REPLACE(ColumnName, 'Thank you!', 'Please review details.
Thank you!')
WHERE MessageText LIKE '%Thank you!%';
You can use a multiline replacement string like above or you can encode EOLs with CHAR(13)+CHAR(10):
REPLACE(
ColumnName,
'Thank you!',
'Please review details.' + CHAR(13)+CHAR(10) + CHAR(13)+CHAR(10) + 'Thank you!'
)
There is also method which uses STUFF and CHARINDEX:
UPDATE EmailTemplates
SET MessageText = STUFF(
ColumnName,
CHARINDEX('Thank you!', ColumnName),
0,
'Please review details.
'
)
WHERE MessageText LIKE '%Thank you!%';
This method is certainly more verbose. Technically, it is not strictly equivalent to REPLACE, because REPLACE processes all occurrences of the search term and STUFF applies to just one specific position/fragment of the string. But if Thank you! cannot occur more than once in a template, the two methods can be considered equivalent.