RememberUpdatedStateExample.kt

@Composable
fun ParentComponent() {
     setContent {
            ComposeTheme {
                // A surface container using the 'background' color from the theme
                Surface(modifier = Modifier.fillMaxSize(), color = MaterialTheme.colors.background) {
                    var dynamicData by remember {
                        mutableStateOf("")
                    }
                    LaunchedEffect(Unit) {
                        delay(3000L)
                        dynamicData = "New Text"
                    }
                    MyComponent(title = dynamicData)
                }
            }
        }
}

@Composable
fun MyComponent(title: String) {
  var data by remember { mutableStateOf("") }

    val updatedData by rememberUpdatedState(title)

    LaunchedEffect(Unit) {
        delay(5000L)
        data = updatedData
    }

    Text(text = data)
}