I got a similar solution on iOS as a shortcut connected to the action button. Some apps doesn’t allow easy text copy. Or when it’s in a foreign language. It does:

- take screenshot

- extract text from it

- translate the text to english. Auto detects source language

- show both original and translated text in quick view where you can select and copy if desired.

Here is a implementation you can try:

https://www.icloud.com/shortcuts/f420d24e4960415da1a43f230ab...

While on the subject of iOS. In recent versions when you open a photo in the photos app you can also select the text in the photo by hand and copy it.