Proposed resolution:

This wording is relative to N4885.

1. Modify [ranges.syn], header <ranges> synopsis, as indicated:

     […]
   namespace std::ranges {
     […]
     // [range.dangling], dangling iterator handling
     struct dangling;
     
     template<range R>
       using borrowed_iterator_t = see belowconditional_t<borrowed_range<R>, iterator_t<R>, dangling>;
   
     template<range R>
       using borrowed_subrange_t = see below
         conditional_t<borrowed_range<R>, subrange<iterator_t<R>>, dangling>;
   
     […]
   }
   

2. Modify [range.dangling] as indicated:

   -1- The tag type dangling is used together with the template aliases borrowed_iterator_t and borrowed_subrange_t. When an algorithm that typically returns an iterator into, or a subrange of, a range argument is called with an rvalue range argument that does not model borrowed_range ([range.range]), the return value possibly refers to a range whose lifetime has ended. In such cases, the tag type dangling is returned instead of an iterator or subrange.

   namespace std::ranges {
     struct dangling {
       […]
     };
   }
   

   -2- [Example 1: […] — end example]

   -?- For a type R that models range:

   1. (?.1) — if R models borrowed_range, then borrowed_iterator_t<R> denotes iterator_t<R>, and borrowed_subrange_t<R> denotes subrange<iterator_t<R>>;

   2. (?.2) — otherwise, both borrowed_iterator_t<R> and borrowed_subrange_t<R> denote dangling.

[ 2021-06-07 Approved at June 2021 virtual plenary. Status changed: Voting → WP. ]

[ 2021-05-20; Reflector poll ]

Set status to Tentatively Ready after seven votes in favour during reflector poll.

As discussed in P1715R0, there are ways to implement something equivalent to std::conditional_t that are better for compile times. However, borrowed_{iterator,subrange}_t are currently specified to use conditional_t, and this appears to be user-observable due to the transparency of alias templates. We should simply specify the desired result and leave the actual definition to the implementation.