SELECT
    C.ItemID,
    C.Name AS ReportName,
    C.Path AS ReportPath,
    ReportDefinitionXML.exist('//*[contains(text()[1], "Pages/Folder.aspx")]') as hyperlink,
    CA1.ReportDefinitionXML
FROM
    dbo.Catalog AS C
CROSS APPLY (SELECT CONVERT(XML, CONVERT(VARBINARY(MAX), C.Content,1)) AS ReportDefinitionXML) AS CA1
WHERE
    C.Type = 2

This is what I did to get it to work. Thank you to everyone who contributed to helping me to get this working.