The Insert-distance and Direction measurements tool does label the line direction as a 360 degree azimuth with a degree symbol. I need the bearing text format like 'p D[°] m['] ss.ss["] b' like N 59° 59' 59.99". The single quote after the minutes value is throwing off the expression since it has meaning to the evaluator. The escape characters [] do not work with a single quote. I did see the TextFormatting.SingleQuote constant but have struggled to insert that into the format string. I switched the back tick mark for the apostrophe for now.
Below is the labeling expression:
var unit = $feature.DistUnit;
/* This converts labels to the abbreviated unit of measurement */
var unitMeasurement = When(
unit == 'Feet','ft',
unit == 'Kilometers','km',
unit == 'Meters','m',
unit == 'Miles', 'mi',
unit == 'Nautical Miles','NM',
unit == 'Yards', 'yd',
' ');
Text($feature.Distance, '#,###.##') + " " + unitMeasurement + " " + "Bearing: "
+ Text(ConvertDirection( round($feature.Angle,5), {directionType:'North', angleType: 'Degrees'}, {directionType:'Quadrant', angleType: 'DMS', outputType: 'text', format:'p D[°] m[`] ss.ss["] b'}));