How to script a component template name from tag instance

Is there any way to use a UDT tag instance name as the name of the drop target when instantiated? Currently when I drag a UDT tag onto a window the drop target component takes on the name of template. It would be great if I could make it take on the name of the UDT tag.

While there is a way to do it, my solution requires scripting. I achieved this by making a template I can paste into a window/template (dubbed my “Magic Button”) that can trigger different python scripts using keystroke events. For example, when I press CTRL+ALT+J it will call functions to name some of my template instances based on the UDT parameter and CTRL+ALT+U will rename those templates back to generic names using a counter. I’m more than happy to give you more guidance on this if you’re still trying to figure this out.