Splitting delimited string to separate columns in simple SELECT

DECLARE @IDTag VARCHAR(100)= 'TEST|00000298398293|EQ5|Patient'
SELECT CAST('<Node>' + REPLACE(@IDTag,'|','</Node><Node>') + '</Node>' AS xml).query('Node[1]/text()') AS Region,
       CAST('<Node>' + REPLACE(@IDTag,'|','</Node><Node>') + '</Node>' AS xml).query('Node[2]/text()') AS PatientID,
       CAST('<Node>' + REPLACE(@IDTag,'|','</Node><Node>') + '</Node>' AS xml).query('Node[3]/text()') AS FormType,
       CAST('<Node>' + REPLACE(@IDTag,'|','</Node><Node>') + '</Node>' AS xml).query('Node[4]/text()') AS NurseStation

Region	PatientID	FormType	NurseStation
TEST	00000298398293	EQ5	        Patient