First, it’s better and cleaner if you make your status as table data like this. It will create a lookup link to your new “Status” table, allowing you to get data from this table.
Then, define a custom order, so that each time you click, you’ll go the next proposal. Also, get this information in your main table as lookup, it will make the next formula a little bit easier
So, each time you click you want to call the status with Order = Current Order + 1, except if the current order is equal to the maximum value, in this is case you want to go back to 1
So Write this formula ;), that will - Modify the status of the row stauts. If the current order is equal to your status database count (in example 3), then you’ll call the status with order = 1, otherwise, you call the status with order = current order + 1