Almost any object can be set to grow (CanGrow = True). Which makes the object grow if the text is too long.
I believe you need a function for making the text fit inside the object.
“ShrinkToFit = True”
This would shrink the text so that it fits inside the object. So if the font size is 20 and a long text wouldn’t fit inside the object, the font size would shrink until it fits.
Today we need to set several conditional formatting rules for this and it’s far from perfect.