Styling labels in dash dropdown using html

The following code does nothing:

            {'label': html.Span('word1 word2'), 'value': value}])

The label key only takes string values. Is there a workaround? Say I want to change the color of word1 to red and the color of word2 to green. How do I go about doing this?

You can do this for the Bootstrap dropdown menu, but unfortunately that’s not searchable. And the workaround to make it searchable seems to require quite a bit of JavaScript.

I am ok with minimal Javascript solutions.