React - replace string by render or component

replaceStrByRender.ts

const replaceStrByRender = (
  str: string,
  substr: string | RegExp,
  render: (part: string, i: number) => JSX.Element
) => {
  if (!str || !substr) return str
  const parts = str.split(substr)
  const results: Array<string | JSX.Element | null> = []
  let index = 0
  for (let i = 0; i < parts.length; i++) {
    if (parts[i]) results.push(parts[i])
    if (i + 1 < parts.length)  {
      const rendered = render(parts[i], index++)
      if (rendered) results.push(rendered)
    }
  }
  return results
}