looking to find 1 of 2 words in a cell in column B and return the word found in the same

Try this regular formula, copied down

E2: =IFERROR(INDEX({"plat";"orig"},MATCH(1,INDEX(COUNTIF(B2,{"*plat*";"*orig*"}),0),0)),"")

An alternative is to put your list of words in a range:
I1:I2 contains
plat
orig

Then you could use this regular formula

E2: =IFERROR(INDEX($I$1:$I$2,MATCH(1,INDEX(COUNTIF(B2,"*"&$I$1:$I$2&"*"),0),0)),"")

Is that something you can work with?