In ArcMap there is a function within the 'Draw' toolbar where you can place a label upon clicking a feature. This was an extremely convenient function and it does not exist in ArcGIS Pro. Upon asking ESRI Support, they directed me to the 'Graphics and Text' section under the insert tab. This section does not contain this function and the function doesn't appear to be available in ArcGIS Pro. I think this is an ArcMap function that would be beneficial to bring into Pro.