I have to select text from gutenberg editor. Purpose is to store and replace text

We have to select text from the Gutenberg editor. The purpose is to store and replace text. Please use this code to help us with you

const { select } = wp.data;
const selectedBlock = select('core/block-editor').getSelectedBlock();

if (selectedBlock) {
    const selectedText = selectedBlock.attributes.content;
    console.log("Selected Text:", selectedText);
    // Store the selectedText as needed.
}

Replacing Text within a Block

const { dispatch } = wp.data;
const newText = "New Text to Replace";

dispatch('core/block-editor').updateBlockAttributes(selectedBlock.clientId, {
    content: newText
});

I am saving and Reusing Selected Text using the console.log()

localStorage.setItem('selectedText', selectedText);

const storedText = localStorage.getItem('selectedText');
console.log("Stored Text:", storedText);

const { registerPlugin } = wp.plugins;
const { PluginBlockSettingsMenuItem } = wp.editPost;

const MyReplaceTextPlugin = () => (
    <PluginBlockSettingsMenuItem
        label="Replace Text"
        onClick={() => {
            const newText = "Replaced Text!";
            dispatch('core/block-editor').updateBlockAttributes(selectedBlock.clientId, {
                content: newText
            });
        }}
    />
);

registerPlugin('my-replace-text-plugin', {
    render: MyReplaceTextPlugin
});