Automated Drop down or Formula?

Hi all, I was wondering if there is a formula or drop down function that can auto populate words or drop downs? As seen in my conditional formatting for "Days Left Till Expiration it conveys whether if it is red, Yellow, Or Green based on the amount of days passed or upcoming till a Term end date. I'm wondering if I can auto populate something similar to my drop down list I'm attempting to signify whether it is Past Due (Red), Upcoming (Yellow), Or Expiring Greater than or Equal to 01/01/2025 (Green).

Thank you in advance!



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