I’m sorry to inform you that the suggestion has not been implemented. But today after I testing it again, I find something new.
I think it’s not random. If you select words from left to right, the pop up menu will appear below the text. Similarly, if you select words from right to left, the pop up menu will appear above the text. I agree that the second way to select text is weird, as usually we read from left to right.
However, I ask for your understanding that as it’s not a bug and currently we need to first deal with great sync issue, your request may not be implemented in the near future.
By the way, if you are indeed troubled by the pop up menu, you could turn this feature off in settings.