Using Higher-Order Components (HOCs) - A more advanced pattern in React is to wrap the RadioButtonGroup with an HOC that injects label customization logic

radiobuttongroup.reactAsHigherOrderComponent.tsx

export function withCustomLabel(Component: ReactNode) {
  return (props) => {
    const modifiedOptions = props.optionList.map((option) => ({
      ...option,
      label: <CustomElement labelText={option.label} />,
    }));
    return <Component {...props} optionList={modifiedOptions} />;
  };
};

const EnhancedRadioButtonGroup = withCustomLabel(RadioButtonGroup);

// Usage
<EnhancedRadioButtonGroup optionList={suggestDepositAmounts} />;

const suggestDepositAmounts = [
  {
    value: "100",
    label: "100 RSD",
  }
];