JSFiddle - React, Tailwind, and code Playground

HTML

<div id="container">
                <div class="box">
            
            <div class="text-body">
                <div class="text-inner">This is the text description of the item.
                    It can flow onto more than 2 lines, too,
                    if there is room for it, but otherwise
                    should only show 1 line.
                </div>
            </div>
        </div>
    </div>

CSS

#container {
    width: 104px;
}
.box {
   
    max-height: 40px;
    overflow: hidden;
   
    border: solid 1px red;
    position: relative;
}
.box:after {
    content: '...';
    position: absolute;
    left: 84px;
    bottom: 0;
}
.text-body {
    position: relative;
}
.text-body:before {
    content: '';
    position: absolute;
    left: 80px;
    top: 14px;
    width: 12px;
    height: 2px;
    background: white;
}
.text-inner {
    width: 90px;
    padding-right: 10px;
}