What problem does this address?

While working on TwentyTwentyTwo - it was noted that the dropcap layout looked tight (bad line-height) or undesirable Drop cap needs attention/styling #180 on certain user's systems. Currently, it was agreed that dropcap support was not imperative for TwentyTwentyTwo.

Note: this is not imperative to WP 5.9 release or TwentyTwentyTwo progress at all.

However, it would be ideal to extend drop cap styling and support to allow for some theme.json settings to adjust things like: line-height, font-weight, and even color or margin.

What is your proposed solution?

Extend drop cap support and put additional mechanisms in place in theme.json to allow theme authors to declaratively define drop cap styling.

Possible related conversation and considerations: theme.json: whether or not to allow targetting settings that are specific to the block #35114

Is it the objective to be able to configure every option in core blocks through theme.json?
It would be so helpful to be able to preconfigure things like text alignment, vertical alignment, block alignment, block width, media position, and so on..