JSFiddle - React, Tailwind, and code Playground

JavaScript

console.log('This <is> a string to <use> to test the <regular> expression'.replace( /[^<>]+|<.*?>/g, function(val){
    if(val.charAt(0) == '<' && val.charAt(val.length - 1) == '>') {
      return val.slice(1,-1);
    } else {
      // Do whatever you want with val here
      return val.toUpperCase(); 
    }
} ));