Inserting a widget inside a text block

Is it possible to insert a widget within a text block? For example, I am “Character name”. How do you Insert a widget to change the character name?

It is preferable to insert a widget over search and replace way if i can.

Text Blocks can have no children. But why not simply format text…

You can flag a text block as variable (at the top of the details panel).

How do I add a widget as the inline decorator? Can you point out the steps?

you can do that using rich text blocks :

How do I add a widget as the inline decorator? Can you point out the steps?