There are several ways to select text if you need to make corrections, edit or insert graphics.
Tap the screen where you want to place the cursor, then select from the contextual menu options that will come up, type in new text, or use the delete button to erase text.
Touch and drag the cursor to move it elsewhere in the text. The cursor will appear above your finger to make it easier to know where you will drop it when you release it.
Placing the cursor in between words or letters can be difficult. Fortunately, the space bar can easily be used as a touchpad mouse. Touch and hold the space bar (at the bottom of the keyboard), pause, and when the keyboard grays out you can use the keyboard as a touchpad to move the cursor.
Double-tap a word to highlight it and display other options. Drag the edit selection handles to expand or move the selection area.
Triple-tap a sentence to highlight it and display other options. Drag the edit selection handles to expand or move the selection area.
Tap four times anywhere in a paragraph to select the paragraph.
iOS 13 added some gesture shortcuts for the oft-used copy-and-paste commands. Simply pinch with three fingers over the keyboard to copy. Zoom or “un-pinch” with three fingers to paste.