TWE Design System Components: Update Dropdown according to M3

[karina-sato]

Overview

We need to update the components to match M3 Material Design guidelines style

Action Items

• Use M3 Material Design guidelines to assess the style differences
• Update the component design
• Communicate changes in the issue's comments and with the design team
• Update/create microsite for devs accordingly
• Get sign-off from Project Manager
• Add the microsite to the "Ready for Dev" page
• Close this issue

Resources/Instructions

• Use Material Design (https://m3.material.io/) as guideline