Replace words with better text

Configuration Frontend
2

Create a template sensor in the UI under Helpers, with a State Template like this:

{% set ns = namespace(s=states('sensor.YOUR_SENSOR_ID')) %}
{% set rd = {"SR-4 BYP S": "BYPASS 4",
             "Another phrase": "Another replacement",
             "Final phrase": "Final replacement"} %}
{% for r in rd.keys()|select('in',ns.s) %}
{% set ns.s = ns.s|replace(r, rd[r]) %}
{% endfor %}
{{ ns.s }}

Then use that new sensor in place of the old one. Remember sensor states are limited to 255 characters.

Note that the for list is evaluated once at the start of the loop, so you can’t do sequential swaps this way: x to y to z.