JSFiddle - React, Tailwind, and code Playground

JavaScript

var listItems = [];
var yourString = ":All;true:Yes;false:&nbsp";

var arr = yourString.split(";");
for (var i = 0; i < arr.length; i++) {
    var arr2 = arr[i].split(":");
    var value = arr2[0] || "";
    try {
        value = JSON.parse(value);
    } catch (e) {}
    
    listItems.push({
        itemValue: value,
        itemText: arr2[1] || ""
    });
}

console.log(listItems);