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This question already has an answer here:

Does anyone know where I go to customise the below text on my sharepoint 2016 site? enter image description here

marked as duplicate by Waqas Sarwar MVP Jun 19 '17 at 13:56

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There is Powershell script available to allow you to change the text. SuiteNavBrandingLogoTitle value specifies the text and you can also change the URL it redirects to using SuiteNavBrandingLogoNavigationUrl

$web = Get-SPWebApplication "http://mywebapp"
$web.SuiteNavBrandingLogoNavigationUrl ="http://mywebapp.sharepoint.com"
$web.SuiteNavBrandingLogoTitle = "MyWebApp"
$web.Update()
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You can update the Suite Bar text using few lines of PowerShell script.

$wa = Get-SPWebApplication http://sp2016
$wa.SuiteNavBrandingText = "Intranet"
$wa.Update()

For additional customizations, you can refer below post.

SP2016 - Change Suite Bar?

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