JSFiddle - React, Tailwind, and code Playground

HTML

<div class="drag"></div>

CSS

body {
    padding: 0px;
}

.drag {
    position:relative;
    width:100px;
    height:100px;
    top:100px;
    left:100px;
    
    border:1px solid silver;
    background-color:whitesmoke;
}

JavaScript

$.fn.draggableXYE = function(options) {
    var defaultOptions = {
        distance: 5,
        dynamic: false
    };
    options = $.extend(defaultOptions, options);
    
    // ADDED: Store startPosition for reverting
    var startPosition = this.position();

    // ADDED: Function to apply easing to passed element
    function AnimateElement(element, newpos) {
        $(element).stop().animate({
            top: newpos.top,
            left: newpos.left
        }, 1000, 'easeOutCirc');
    }

    this.draggable({
        distance: options.distance,
        // ADDED: Helper function to create invisible helper
        helper: function(){
            return $('<div></div>').css('opacity',0);
        },
        start: function(event, ui) {
            ui.helper.data('draggableXY.originalPosition', ui.position || {
                top: 0,
                left: 0
            });
            ui.helper.data('draggableXY.newDrag', true);
        },
        drag: function(event, ui) {
            var originalPosition = ui.helper.data('draggableXY.originalPosition');
            var deltaX = Math.abs(originalPosition.left - ui.position.left);
            var deltaY = Math.abs(originalPosition.top - ui.position.top);

            var newDrag = options.dynamic || ui.helper.data('draggableXY.newDrag');
            ui.helper.data('draggableXY.newDrag', false);

            var xMax = newDrag ? Math.max(deltaX, deltaY) === deltaX : ui.helper.data('draggableXY.xMax');
            ui.helper.data('draggableXY.xMax', xMax);

            var newPosition = ui.position;
            if (xMax) {
                newPosition.top = originalPosition.top;
            }
            if (!xMax) {
                newPosition.left = originalPosition.left;
            }
            
            // ADDED: Animate original object with easing to new position
            AnimateElement(this, newPosition);

            return newPosition;
        },
        // ADDED: Stop event to support reverting
 ...