It's really easy to create a rotate function for text in blocks. You have 3 options for the text:
attdef: which defines the text as an attribute and allows you to edit / modify the text without editing the block itself
you get a choice if you want a single line or multi line text and you can define the default space the text occupies
Dtext: Single line text which will be static in nature, but you can rotate it. (I haven't used Dtext in over 20 years, but the command still remains and is supported in AutoCAD 2023)
Mtext: Multi line text with more choices than Dtext.
Once you have decided which text format you want to deploy in your block, type the contents of your message and format to get the desired appearance.
Step 2: choose the Rotate parameter from the Block Authoring Palette and position the center point of your desired rotation relative to the text you want to be able to rotate after the block is inserted into your drawing. I tend to use text defined as attribute and position the rotate parameter on the insertion point of the attribute. You'll have to decide what works best for your needs. You'll have to decide on the radius (not important for this use), the default rotation (this defines where the handle is located relative to the center of the rotation, and lastly the label position.
Step 3: swap the Block Authoring Palette to show the Actions and choose the "Rotate" action. You'll be prompted to select a parameter and you need to pick the handle of the rotate parameter you have just placed. now select the text / attribute you want to be able to rotate. Right click to close / complete this command.
By default, the rotate parameter is not limited by minimum, maximum or increment of rotation. You can easily set these restrictions by selecting the parameter and changing the properties under "Value Set" in the properties dialog.
Close the block and save on closing.
You can now rotate the text displayed in your block.