I tested with ‘Product Variation Swatches for WooCommerce’ and can see what you are seeing. This happens because ‘Product Variation Swatches’ is over-writing the drop-down box with its own drop-down box.
There is a work-around for this built into ‘Markup by Attribute’. I’ll put instructions below, but it is also here, with some pictures.
Go into Products >> Attributes and edit the attribute in question. Don’t just click into it to see the variations; edit it by hovering over the attribute and choosing ‘Edit’.
My Attribute
Edit | Swatches Settings | Delete
↑↑↑
Near the bottom of the attribute settings, there will be the ‘Add Markup to Name?’ option. Select it.
Add Markup to Name? ☑
Rename the attribute to include the markup. Often needed if
the option drop-down box is overwritten by another plugin or
theme and markup is no longer visible.
Click [Update] to save this setting. Then, click into the attribute so you see the list of variations. Select a variation with a markup, don’t change anything, just click [Update].
Name: [Very Large ]
… will become …
Name: [Very Large (Add $5.00) ]
Since ‘Product Variation Swatches’ displays the variation name, it will now also display the markup.
I hope this made sense. Please let me know if it helps or not.
I haven’t tried it yet, but thank you very much for your answer.