What procedure should a pilot follow after experiencing a two-way radio failure while in VFR condition on an IFR flight?

When a pilot encounters a two-way radio failure while flying under Instrument Flight Rules (IFR) yet in Visual Flight Rules (VFR) conditions, the correct procedure is to continue flying in VFR conditions and to land as soon as possible. This option is appropriate because the pilot is able to visually navigate and observe the surrounding traffic and terrain, ensuring a safer landing environment.

In this scenario, the pilot can maintain awareness of their surroundings without relying on communications, making it feasible to execute a safe landing at the nearest suitable airport or designated area. The ability to see and navigate visually becomes critical, as the pilot can follow VFR regulations and safely manage the situation without the aid of radio communication.

The other options provide alternatives that may not align with the best practices for this specific situation. For example, returning to the nearest airport, maintaining altitude, or descending to a safe altitude may not take full advantage of the visual conditions available, which could lead to unnecessary complications or risks when a safe landing could be completed. Hence, the emphasis remains on utilizing VFR conditions to ensure a safe resolution to the radio failure.