Вот три решения вашей проблемы. Они отличаются тем, как определяется список в проверке данных.
Private Sub Test()
Dim Cell As Range
' Cell contains a comma separated list
Set Cell = Cells(2, 2)
Cell.Value = Split(Cell.Validation.Formula1, ",")(0)
' Cell contains a reference to a named range
' but should also work for a worksheet reference
Set Cell = Cells(4, 2)
Cell.Value = Range(Mid(Cell.Validation.Formula1, 2)).Cells(1).Value
' cell contains a reference to a range
Set Cell = Cells(6, 2)
Cell.Value = Range(Split(Mid(Cell.Validation.Formula1, 2), ":")(0)).Value
End Sub