The old ionc3 LoadingController returned a loader object which had a method setContent() which could be used to update the loading message as things progressed:
Might this be one of those FTSE problems? IOW, how about moving the dynamic capability into a custom component?
let loader = this.loadingCtrl.create({
content: '<my-loader-messager [message]="msg"></my-loader-messager>'
});
Changes to any properties referenced by the internal component (such as msg in this example) should be reflected in the loading component (although perhaps manual change detection triggering might be needed).