We are unable to select a value from lov dynamically when tried using the ways like select option by value and changing object properties in attributes.
With parameterizing test objects, you can update test objects' locators dynamically by using either local or global variables. This feature comes in handy in these use cases:
You want to perform a bulk action on a group of similar elements without defining multiple Test Objects, such as checking on multiple checkboxes;
You can only identify an object's locator during runtime because there's a group of similar objects and the chosen one cannot be specified beforehand in test scripts.
Katalon Studio supports parameterizing properties of test objects to handle dynamic objects. Dynamic objects are those that have some particular changes in their properties based on specific business rules. The example below describes how to apply this feature.
Uncheck/deselected the dynamic "id"
Follow this document to parameterize test objects