The goal of this task is to update the Side navigation component based on the designs, docs, and changelog which [can be found in Figma](https://www.figma.com/file/Pf31tuYpozYmpq163U2ho8/Web-components?node-id=9779%3A174960&t=Yzf4Y5pnTOACHEig-4). 
The goal of this task is to update the Side navigation component based on the designs, docs, and changelog which can be found in Figma.