JSFiddle - React, Tailwind, and code Playground

HTML

<script src="https://cdnjs.cloudflare.com/ajax/libs/jquery/3.2.1/jquery.min.js"></script>
<div>
  <a href="javascript:;" class="phone_number">+7 (495) 118-26-47</a>
  <span class="phone_show">Показать</span>
</div>

<div>
  <a href="javascript:;" class="phone_number">+7 (495) 655-99-32</a>
  <span class="phone_show">Показать</span>
</div>

JavaScript

const symbolsForHide = 10;

$('.phone_show').click(function() {
  const
    $this = $(this),
    $phone = $this.siblings('.phone_number'),
    phone = $phone.data('phone');

  $phone.text(phone).attr('href', `tel: ${phone}`);
  $this.remove();
});

const reg = new RegExp(`(.+).{${symbolsForHide}}$`);
$('.phone_number')
  .attr('data-phone', function() {
    return $(this).text()
  })
  .text((i, text) => text.replace(reg , '$1...'));