JSFiddle - React, Tailwind, and code Playground

HTML

<label class="label1">One

<input type="text" id="return"></input>
<select class="select1" id="SelectList">
<option value="011">Version 1</option>
<option value="023">Version 2</option>
</select>

</label>

CSS

label {
    padding: 1px;
    margin: 10px;
}

.label1 {
    display: block;
    background-color: gray;
    position: absolute;
    top: 10px;
    font-family: tahoma;
    font-size: 15px;
    text-align:center;
}

.label1 input[type="text"] {
  
  position: absolute;
  top: 0px;
  left: 115px;
  width: 25px;
}

.select1 {
  font-family:tahoma;
  position: absolute;
  top: 0px;
  left: 35px;
}

JavaScript

var e = document.getElementById("SelectList");
var value = e.options[e.selectedIndex].value;
var text = e.options[e.selectedIndex].text;
document.getElementById('return').value = text();