Hi @Paul1,
Could you please share your flow configuration in a screenshot?
The replace function would work for string, and if you would like to replace the CRLF code into "*", I think that may not be available through the replace function.
You may take a try with the code below:
@replace(body('Html_to_text'),char(13),'*')
Char(13) here means the newline (CR).
See if it would work in this way.
Regards,
Michael