[Citizen8396]

Haven't tested this, but try:

System Settings > General > Language & Region > Live Text

"Select text in images to copy or take action."

[jwagenet]

I understand people don't like this kind of OCR stuff for privacy reasons, but selecting text from images is probably the most useful feature added to iOS in the last ~5 years for me.

[walterbell]

It could be even more useful if performed on demand, e.g. long-press on photo region with text.