Hello @SanthoshV, there isn’t functionality to add custom text or default text in this situation. I can archive the question and leave it as a feature-request!
Sure @DylanM, please do include it as a feature-request, This feature will definitely help while designing the dashboard using dropdown.
Hello @Akshaymanjunath, I will keep this post as a feature request and archive the ticket for now! Good luck building your dashboard!