Hello @PR,
You can enable the “Hot” label for featured products from XStore >> Theme Settings >> WooCommerce >> Shop Element >> Product Badges: https://postimg.cc/Ff68F6tM.
The description is written under the option “Turn on to show the “Hot” label on featured products you may set from the admin. See details: https://www.modernmarketingpartners.com/2015/01/19/set-featured-products-woocommerce/”
Best Regards,
8Theme’s Team