JSFiddle - React, Tailwind, and code Playground

HTML

<select id="comboBox">
    <option id="1" selected>One</option>
    <option id="2">Two</option>
    <option id="3">Three</option>
    <option id="4">Four</option>
</select>
<button onclick="update();">Update Option</button>

JavaScript

var count = 4;

function update(){
document.getElementById("comboBox").selectedIndex = document.getElementById(count).index;
    count = (count<=1)?4:--count;
}