According to the following document, we can have OOTB Emoticon-list under Enumerations.
But the user does not see this list. Is there any package that needs to be installed or anything else that needs to be configured?
This was a new feature introduced in 9178. Check out the Release notes in Experience League documentation for more information.
Note that the user needs to be on the same console version as the Server build to expose the emoticons menu.