Clicking text (list item) with Selenium and Powershell - powershell

Question

I have the following HTML and I am trying to find a way (in Powershell) to click the "folder" list item, which appears when the "new" button is clicked.
<div>
<i class="fa fa-fw fa-plus"></i>
<span>new</span>
<i class="fa fa-fw fa-caret-down margin-none margin-left-xsmall"></i>
</div>
<div class="itg-popover qa-itg-popover borderless point-to-right arrow-direction-up arrow-position-right open" style="left: 0px; top: 0px;">
<span class="arrow-container" style="height: 0px; width: 10px; left: calc(100% - 0px); top: 100%;">
<span class="arrow" style="border-width: 0px;">
</span>
</span>
<div class="itg-popover-content qa-itg-popover-content" style="left: calc(100% + 0px); transform: translateX(-100%); top: calc(-1px + 100%);">
<ul class="react-selectable-list qa-react-selectable-list">
<li data-id="assset" class="selectable-list-item qa-selectable-list-item">
<span class="sentence-case">
<a>document</a>
</span>
</li>
<li data-id="folder" class="selectable-list-item qa-selectable-list-item">
<span class="sentence-case">
<a>folder</a>
</span>
</li>
<li data-id="file-upload" class="selectable-list-item qa-selectable-list-item">
<span class="sentence-case">
<a>File Upload</a>
</span>
</li>
</ul>
</div>
</div>
Using the following code, I have clicked the "new" button:
$seleniumPath = 'C:\it\selenium'
Add-Type -Path "$seleniumPath\WebDriver.dll"
Add-Type -Path "$seleniumPath\WebDriver.Support.dll"
$chromedriver = New-Object OpenQA.Selenium.Chrome.ChromeDriver
$chromedriver.Navigate().GoToUrl('https://<url>')
$chromedriver.FindElementByXPath("//div[#id='react-main']/div/div[3]/div[2]/div[2]/div/div/div/div/div/div/div/i[2]").Click()
I thought I could create a SelectElement (so I could search by text) with this:
$SelectElement = [OpenQA.Selenium.Support.UI.SelectElement]::new($chromedriver.FindElementByXPath("//div[#id='react-main']/div/div[3]/div[2]/div[2]/div/div/div/div/div/div/div/i[2]"))
But I get this error:
Exception calling ".ctor" with "1" argument(s): "Element should have
been select but was i"
Sure enough, if I look at the object, there's, "i":
WrappedDriver : OpenQA.Selenium.Chrome.ChromeDriver
TagName : i
Text : New
document
folder
File Upload
Enabled : True
Selected : False
Location : {X=1025,Y=102}
Size : {Width=95, Height=35}
Displayed : True
LocationOnScreenOnceScrolledIntoView : {X=1025,Y=102}
Coordinates : OpenQA.Selenium.Remote.RemoteCoordinates
So the question in, how in the world do I click "folder"?