I used to have PC Study Bible and it had a feature where I could just type the scripture reference in MS Word, hit enter, and the text of the verse would be inserted into my document.
Does Logos have a feature like this?
Barely. It is possible, but the feature requires some work to set up: https://wiki.logos.com/Smart_Tags
The best way is probably to do your typing in the sermon editor, where if you hit enter after a reference, it will insert the verse. Then export to Word.
Welcome to the forums Allan. Using smart tags should do the trick - https://wiki.logos.com/Smart_Tags
Or, if you have Logos 7 or Logos Now, the built-in Sermon Editor auto-inserts passages when you type the reference and hit enter.
https://www.logos.com/logos-pro/sermon-editor