My question is similar to this one though a bit more complicated. Though my question also includes indices, I am removing them to ease readability.
Let binary variables $x,y\in\{0,1\}$, non-negative continuous variable $z\in\mathbb{R}^+$ and the parameter $\lambda\in\mathbb{R}^+$. Is there a way to linearize the below equality constraint?
$$\displaystyle z=\sqrt{\lambda\left(x+y\right)}$$
Can we benefit from the fact that $\alpha=x+y$, where $\alpha \in \{0,1,2\}$ and write additional constraints?