Sorting - dropdown with dynamic up/down sort

There are scenarios where we require a dropdown to provide sorting options, but this often means duplicating each option to have the inverse e.g. Date (New - Old) and Date (Old - New).

This proposal would have it so each sort has an icon button that can be interacted with to reverse the sort order of that option (see attached). This saves significant real estate when their are numerous sort orders and when customers can have custom sort options.