I know it’s possible to show or hide static text depending on a condition, but I would like to be able to change the text conditionally instead.
Or maybe there is a workaround where I can hide one static text and show another depending on the condition. However, I can’t use the same field location for both static text fields.
You will need to use formulas BBCode in description field with conditional formulas IF() to return different description texts according to different rules instead.