I am trying to create a tutorial video, like the format below. I would like the video (with audio) to be displayed on the left and on the right, transcript to the video.
Yes, After Effects can do that, but it's easier and better to do that in Premiere Pro.
The transcript bar would display the full script, which the user could scroll up and down and if the user clicked on a piece of text, they would be directed to this scene. The text would also be highlighted when the corresponding scene is being displayed in the video
No, not in After Effects.
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Displaying editable and user-controllabel text is a function of the player software and/ or surrounding web page. This has nothing to do with AE or Premiere. At best you can embed specific markers and timecodes in your video, but you still need to have the facilities in place to actually have e.g. some JavaScrip read those markers and pull the text on the web page and highlight it. Similar things would apply to conventional closed captions that are rendered dynamically by the player software. Otherwise all you can ever do is create burned in text.