1. When to use
When working with complex UI, use the Inline Loader to progressively display data as it loads. This will reduce the perceived wait time and give the user other pieces of UI to work with. ¹ Do not use other loading components to load individual pieces of text.

2. Placement
Place Inline Loaders within the content in the position that the text will eventually appear. Aligning the Inline Loader to the UI appearance will help set user expectations and enhance the user experience. ²

Related Components
Additional Reading
Loading Feedback https://www.pencilandpaper.io/articles/ux-pattern-analysis-loading-feedback#setting-expectations-with-the-ui
Loading & progress indicators — UI Components series Loading & progress indicators — UI Components series | by Taras Bakusevych | UX Collective