To test:

We first need to get to a state where the toolbar is actionable on a RichText based component:

1. launch the demo app from scratch
2. Tap on the Lorem Ipsum Rich Text block
3. observe the cursor appears, the block gets selected, the keyboard appears and the editor toolbar reflects the Heading style
4. try tapping on the TRASH icon once. Make sure you're tapping on that button location
5. observe the caret is now gone, the keyboard gets hidden, but the block remains selected. Also observe the block has not been trashed.

In this state, now:

6. try tapping on the text to obtain the caret and edit it.
7. observe that is simply not possible.
8. tap on the DOWN arrow on such block
9. observe the block moves down one position.
10. tap on the UP arrow
11. observe the block moved back up one position.
12. tap on the trash icon
13. observe the block is removed from the list.

What should happen?

1. an editable block that is selected, should also be editable and the inline toolbar should work.

Workaround

As a workaround, after step 7 try to select another editable, and then again tap into Lorem ipsum, and verify the caret appears and you can edit the text.

Where

Observed on a real device (Google Pixel 8.1)