You can’t add just some custom test within the dropdown, but you can use an offline payment method, set it to be only for use within the admin (essentially just that dropdown) and change the text uses within that payment method.
Which payment method you use depends, if you have an office one you do not and will not be using, you can use that. Or you can use the Flexible payment method add-on to add another.
I’ll use bank draft in my example but again, it can be any payment method, but I would advise using an offline payment method.
Now, after that, you can change the string EE will use to display the payment method in that list. It uses the ‘Admin-Only Description’ first, if that isn’t set it uses the ‘Admin-Only Name’, set whichever you prefer (You may also want to change the ‘Name’ field to match).
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