Currently, if I want to have a colored Dropdown with

Option 1
Option 2

and I want Option 1 to have color Green and option 2 to have color Red,

I need to:
1. Do data validation, select Dropdown and insert the values.
2. Do conditional formatting, select "exact text" and insert each of the values.

If I want to expand or move the conditional formatting such as by CTRL+C and CTRL+V, conditional formatting must be done separately.

I believe this is simple to implement and greatly improves usability.