Dropdown values getting cut-off

That is how it works. You cannot show complete sentence. If you want to display the complete sentence as choice labels use radio buttons or run this in a selectable grid. Is it mandatory to show the eg.?

Why not use card choices instead of that drop down. I think this would become an overall better UX.

In a single column layout for dropdown the choicelabel text won't cut off for first 196 characters. If you have more than the limit then you can use options suggested already.