Place holder is not working in editor text area in TINYMCE

Question

We tried Adding placeholder in tinymce.init, it is not showing in textarea.

tinymce.init({
  selector: "textarea",
 ** placeholder: "Enter paragraph text. Highlight the text to apply styling.",**
  skin: false,
  icons: '',
  menubar: false,
});

We are able to see it in HTML content, but not displaying in text area enter image description here

Actual Result: Not displaying placeholder in textarea.

Expected Result: To display placeholder in textarea.