Formula to edit part of a text in one cell based on an values in another cell

githinmg99 

In attached file, a different approach for TEXT_SPLIT:

=LAMBDA(Value,Delimiter,
    LET(
        Positions, LAMBDA(String,Delim,Sequence,
            LET(
                k, SCAN(0,Sequence, LAMBDA(acc,s, IF(MID(String,s,1)=Delim, acc+s, 0))),
                FILTER(k, k > 0)
            )
        ),
        Seq,   SEQUENCE(LEN(Value)+1),
        Start, Positions(Delimiter & Value, Delimiter, Seq),
        End,   Positions(Value & Delimiter, Delimiter, Seq),
        MID(Value, Start, End-Start)
    )
)

Updated previous Result formula to account for nothing to return and added a couple of other options that avoid spliting A2 (better IMHO)

in D2:

=LET(
    value, TEXT_SPLIT(A2,";"),
    TEXTJOIN(";",,FILTER(value,ISNA(XMATCH(value,TEXT_SPLIT(B2,";"))),""))
)

in F2:

=LET(
    Removed, REDUCE(A2&";",TEXT_SPLIT(B2,";"),
                LAMBDA(value,arr, SUBSTITUTE(value,arr&";",""))
    ),
    IF(LEN(Removed) = 0, "", LEFT(Removed, LEN(Removed)-1))
)

in H2:

=LET(
    Removed, REDUCE(LOWER(A2)&";",TEXT_SPLIT(LOWER(B2),";"),
                LAMBDA(value,arr, SUBSTITUTE(value,arr&";",""))
    ),
    IF(LEN(Removed) = 0, "", LEFT(Removed, LEN(Removed)-1))
)