In input list items, only the labels become truncated if the text is too long for the space available.
The input list item was introduced with the original mobile-focused version of SAPUI5. However, SAP Fiori applications currently run across multiple devices and therefore tend to use the form for input purposes rather than the now rarely used input list item.
Want to dive deeper? Follow the links below to find out more about related controls, the SAPUI5 implementation, and the visual design.