This is an old style way to use ternary condition operator.
It has nothing related to print.
See this answer.
In most cases it does the same as this code
print(T and sorted(sorted(T,reverse=True),key=abs)[0] or 0)
print(sorted(sorted(T,reverse=True),key=abs)[0] if T else 0)
It works because of the way and and or works in Python - they do not return bool, but they return either first or second operand, depending if it casts to True or False.
This answer has more details.
Basically it's two operation
first = T and sorted(sorted(T,reverse=True),key=abs)[0]
and Return the first Falsy value if there are any, else return the last value in the expression.
So it either returns [] (possible Falsy value for T), or first element in sorted list.
result = first or 0
or Return the first Truthy value if there are any, else return the last value in the expression.
So if T is Truthy, we already have a Truthy value in first (unless it's 0, which is special case, but 0 or 0 is 0 anyway), it will be returned.
If T is [] - it will return 0.