JSFiddle - React, Tailwind, and code Playground

HTML

<div id='output'></div>

JavaScript

var json = [{
    "Property1": [{
        "IsDropDown": "true",
        "Value": "Drp1Value1"
      },
      {
        "IsDropDown": "true",
        "Value": "Drp1Value2"
      },
      {
        "IsDropDown": "false",
        "Value": "Link1"
      }
    ]
  },
  {
    "Property2": [{
        "IsDropDown": "true",
        "Value": "Drp2Value1"
      },
      {
        "IsDropDown": "true",
        "Value": "Drp2Value2"
      },
      {
        "IsDropDown": "false",
        "Value": "Link1"
      }
    ]
  }
];

var i, j, p;
var controls = '';
for (i = 0; i < json.length; i++) {
  for (p in json[i]) {
    let select = p;
    if (json[i].hasOwnProperty(p)) {
      controls += '<select name=' + p + '><br/>';
      for (j = 0; j < json[i][p].length; j++) {
        console.log(json[i])
        controls += '<option value=' + json[j] + '>' + json[i][p][j].Value + '</option></br>';
      }
      controls += '</select>';
      break; // from for loop, since we only want one select per top-level object
    }
  }

}
document.getElementById('output').innerHTML = controls;