Paste wiki link into highlighted text -> link with alias

Hi there,
Say I just copied an internal wikilink.
I want to be able to highlight a word in a note, and press a hotkey that inserts the copied link, with the highlighted word as the link’s display text.
Are there any existing plugins that are capable of this? I have already used the link with alias and Paste into Selection plugins, and neither are exactly what I’m looking for. Paste into Selection does basically what I want, but with markdown links.