JSFiddle - React, Tailwind, and code Playground

HTML

<ul id="list">
  <li>item-1</li>
  <li>item-2</li>
  <li>item-3</li>
  <li>item-4</li>
  <li>item-5</li>
</ul>

CSS

#list {
    width: 100px;
    
    background: #fbfbfb;
    border: 1px solid #ddd;
}

li.active {
    color: red;
}

JavaScript

var i = 0;
setInterval(function(){
    var els = $('#list li').removeClass('active');
    if(i >= els.length) i = 0;
    $(els[i]).addClass('active');
    i++;
}, 500);