Highlight words in column based on master list of words

Here’s a solution that can match phrases. It’s a multi-step one though. Also it should be a more robust one than the one above, since it doesn’t split the text by every word but only wherever necessary to then stitch it back.

It uses a hidden RegexExtract formula; it supports flags so instead of using Lower() elsewhere I just set it up to work as case-insensitive.