Updated toggle thread text to have state

What does this MR do and why?

Updates the toggle thread button text to react to its state. It will toggle between Show thread and Hide thread.

Screenshots or screen recordings

For merge requests:

Screen_Recording_2022-03-11_at_15.37.26

For commits:

Screen_Recording_2022-03-11_at_15.37.12

How to set up and validate locally

Numbered steps to set up and validate the change are strongly suggested.

MR acceptance checklist

This checklist encourages us to confirm any changes have been analyzed to reduce risks in quality, performance, reliability, security, and maintainability.

• I have evaluated the MR acceptance checklist for this MR.

Closes #354926 (closed)