Potential workaround:
With Apps Script you can run a simple onEdit() trigger to run every time an edit is made on the sheet. So you could use this to run a script that changes the format of cells every time an edit is made.
This would involve getting the whole data range and getting the rich text values of each cell, making a copy of the rich text value object and modifying it with the RichTextValueBuilder. This is turn involves copying and modifying the TextStyle with the TextStyleBuilder.
The wrapping and alignment are set on the whole range with setWrap(isWrapEnabled) and setHorizontalAlignment(alignment).
Example
function onEdit() {
// initialize main variables
let file = SpreadsheetApp.getActive();
let sheet = file.getSheetByName("Sheet1"); // change to your sheet name
let range = sheet.getDataRange();
// This sets the whole range wrap and alignment
range.setWrap(true);
range.setHorizontalAlignment("center")
// Get the rich text values in a 2D array
let richTextValues = range.getRichTextValues();
// Two map functions to return the modified 2D array.
let newRichTextValues = richTextValues.map(row => {
return row.map(cell => {
// Gets the text style from the richText value
let style = cell.getTextStyle()
// Copy the text style and set the bold, font and size
let styleCopy = style.copy()
.setBold(true)
.setFontFamily("Comfortaa")
.setFontSize(11)
.build();
// Set the new rich text value
let newRichTextValues = cell.copy()
.setTextStyle(styleCopy)
.build();
return newRichTextValue
})
})
// Set the whole range to the rich text value.
range.setRichTextValues(newRichTextValues)
}
This should work as-is by copying this into the script editor, trying to run it once from there to get the authorizations done, and then editing your sheet. Remember to add in your sheet name.
Demonstration
This is what it looks like in action:

In this example, I used
- Text wrapping as on.
- Center alignment
- Bold text
- "Comfortaa" font
- 11 font size
You should change these attributes to the ones that you want. There are other attributes available to customize too.
As you can see, it could get a bit tricky if you need to exclude certain ranges, but this is absolutely possible depending on your exact use case.
It should also be mentioned that this is quite an inefficient approach, as it gets the whole range and updates everything. Ideally you want to identify the exact changes and update those, but again, this depends on your exact use case. To get the range that was modified with an onEdit trigger you can use the Event object.
References