Around 38:30 to 41:20, Mike goes to see his sister Holly. She's waiting because Miss Harris called Karen to tell her about Holly's situation with Mr. Whatsit. Mike gently and lovingly reassures her and shows her Dungeons & Dragons, including dungeons, to help her feel stronger. This scene really moved me, because during this time, Mike is genuinely kind-hearted, trying to reassure Holly amidst the whole quarantine situation in Hawkins. Mike's optimism and increased confidence are a blend of maturity and experience, similar to what he displayed in season 1. Now, in season 5, he simply shines.
When he says "Mike the Brave," it gives her a feeling of hope and comfort. They talk about Dungeon Crawl, and he tells her that Mike the Brave is never scared. He explains that when he's nervous or scared, he thinks of Mike the Brave by his side and feels better. He also mentions that she doesn't need Mr. Whatsit, saying that she only needs Holly the Heroic. She then asks, "Holly the Heroic?" He says he expected more years, but in the end, he gives her a Holly the Heroic figurine. He explains that she's a cleric with divine powers: she can repel demons and evil spirits, open dimensional portals, teleport, and visualize. Everywhere she can imagine. He tells her she doesn't need Mr. Whatsit, or does she? (which implies that such dependence can be harmful). She replies, laughing and almost sobbing with joy, that she doesn't. He promises her that the figure will keep her safe. She looks at him with such deep, brotherly love; their bond is forged like the light of dawn during this time. And they remain silent, waiting for Karen, as the moment was very symbolic.
I LOVE THIS SCENE AHHH