How to create a simple text box with editor

I’m aware of how I can create a html box for text and use CSS to style background, border, width, align (float) left or right etc. but what I’m puzzled about is a very simple way to add a formatable text box direct from the text editor (classic and/or Gutenberg). I know in Gutenberg I can choose colour options (background and text) for a simple paragraph block. And I can give that a CSS class, but I assumed there would be something more like a text block as in MS Word or Mac pages text edit.

This would mean that a block can have options for width, border, margin, padding. But very important also is alignment (as with an image in classic or image block in Gutenberg where you just choose left, right or none from within the editor and no need for class and additional CSS)

Am I missing something very obvious here?

Thanks