Parse reference titles as reStructuredText

Feature Suggestion

Parse the reference title text with self.state.inline_text in the sphinx.ReferenceRole
(the same approach used, for example, by admonition titles, rubric titles, table titles and parsed-literal role)

Description

In sphinx rST, if you write :ref:`*title* <ref>` , *title* is interpreted as literal text and translated to a literal node: https://github.com/sphinx-doc/sphinx/blob/697dff31ab09625ead62e1a7ec0780126aeb07c6/sphinx/roles.py#L77

This IMO is not ideal and there are many use cases where one would expect the text to be parsed as rST.

In MyST-Parser, I have overriden some of the reference processing code (see here), such that nested syntax is parsed as "expected".
For example the following Markdown is parsed correctly by Markdown parsers:

[This is a title with nested __*bold italic*__ syntax](ref) 

This is a title with nested bold italic syntax

and now is also correctly parsed into docutils AST, before post-transforms:

<document source="root/index.md">
    <paragraph>        
        <pending_xref refdomain="True" refexplicit="True" reftarget="ref" reftype="myst" refwarn="True">
            <inline classes="xref myst">
                This is a title with nested 
                <strong>
                    <emphasis>
                        bold italic
                 syntax

and after post-transforms:

<document source="root/index.md">
    <paragraph>
        <reference internal="True" refid="ref">
            <inline classes="std std-ref">
                This is a title with nested 
                <strong>
                    <emphasis>
                        bold italic
                 syntax

If there is interest in this, I would consider spending some time writing up a PR to upstream some of these alterations.

Start in sphinx/roles.py at ReferenceRole and inspect its use of self.state.inline_text alongside the analogous title-handling roles mentioned in the issue. Confirm the expected docutils AST for nested reStructuredText in a reference title, then add or update coverage so the title is parsed rather than treated as literal text.