Hi @andrew-fleming
Sure, The select2_args is essentially exactly what you can set for the select2 library which you can find documentation for here: https://select2.github.io/examples.html
You can easily check which settings ACF sets per default by just doing a console.log(args);
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I’m not 100% sure what the other two parameters are but I would suspect the $select is the select element this would be applied to and perhaps settings is the field settings.