Update a field in reactive-forms on valueChanges

I want to format the entered content in a reactive-form directly (best before displaying it). With my current approach, I try to subscribe to the field with 'valueChanges'.

But this leads understandably to a recursion. Every time I change the value in the subscribe field, it is called again.

Therefore my question, how can I edit the input directly before it is displayed?

export class NewPaymentComponent implements OnInit {
  paymentForm: FormGroup;

  constructor() {}

  ngOnInit(): void {

    this.paymentForm = new FormGroup({
      amountFormatted: new FormControl('0.00', Validators.required)
    });

    this.paymentForm.get('amountFormatted').valueChanges.subscribe((change) => {
      this.paymentForm
        .get('amountFormatted')
        .setValue(this.formatAmount(change));
    });
  }

  formatAmount(input: string): string {
    // ... method body omitted
    return "changed";
  }

}

On another attempt, I tried to change the value with pipe and map. In tap the correct path is then written, but it is not used for the field.

    this.paymentForm
      .get('amountFormatted')
      .valueChanges.pipe(
        map((val) => (val = this.formatAmount(val))),
        tap((change) => console.log('onTap', change))
      )
      .subscribe();