2. A friend in need is a friend indeed

2. A friend who helps out when we are in trouble is a true friend — unlike others who disappear when trouble arises.

If the former, then the phrase means: “someone who helps you when you are in need is a true friend”. If the latter, it is “someone who needs your help becomes especially friendly in order to obtain it”. So, that gives us four options: A friend, (when you are) in need, is indeed a true friend.

Firstly, is it 'a friend in need is a friend indeed' or 'a friend in need is a friend in deed'? Secondly, is it 'a friend (when you are) in need' or 'a friend (who is) in need'? If the former, then the phrase means: 'someone who helps you when you are in need is a true friend'. If the latter, it is 'someone who needs your help becomes especially friendly in order to obtain it'.