You have to create your custom Option component.

Refer to this link for Custom Option components :

Also, I have created this sample sandbox example. Pardon me for bad CSS styling.

You're using && the wrong way. See short circuit evaluation for more detail. label can also accept a ReactNode, to fix the problem, define the option array as follow:

const options = [
  {
    value: "ocean",
    label: (
      <>
        <YourIcon /> Ocean
      </>
    ),
    color: "#00B8D9",
    isFixed: true
  },
  {
    value: "blue",
    label: (
      <>
        <YourIcon /> Blue
      </>
    ),
    color: "#0052CC"
  },
  {
    value: "purple",
    label: (
      <>
        <YourIcon /> Purple
      </>
    ),
    color: "#5243AA"
  }
];