JSFiddle - React, Tailwind, and code Playground

HTML

<p placeholder="Text Here" contenteditable="true"></p>

CSS

p {
  border: 1px black solid;
  outline: none;
  text-indent: 36px;
}

p:empty::before {
  content: attr(placeholder);
  color: grey;
}

JavaScript

const p = document.querySelector('p');

p.addEventListener('input', () => {
	if (p.textContent !== '') return;
  
  let elemToDel = [];
	
  for (let j of p.children) {
    if (j.className === 'modified-text') {
      return;
    }
    else {
      elemToDel.push(j);
    }
  }

  elemToDel.forEach(i => i.remove());
});