JSFiddle - React, Tailwind, and code Playground

HTML

<div>
    <span class="set-ui-icon-15x41-new">Indicator that should turn on of there are ins or del child elements the next div following the parent of this span.</span>
</div>
<div>
    Exception Test
</div>
<div>
    <span class="set-ui-icon-15x41-new">Indicator that should turn on of there are ins or del child elements the next div following the parent of this span.</span>
</div>
<div>
    <span>Selector Test</span>
    <del>there are some deletes</del>
    <ins>there are some inserts</ins>
</div>

JavaScript

$(document).ready( function() {
    $('.set-ui-icon-15x41-new').filter( function() {
        return $(this).parent().next(':has(ins),:has(del)').size()==1;
    }).toggle(500);
});