Wrap Text in Column Formatting does not work unless Wrap Text in Report Formatting is turned on.
Wrap Text settings are available for both Report and Column Formatting.
If "Report Format > Data > Style(Set custom) > Wrap Text" is switched OFF, the text in cells will not wrap even if "Column Format > Data > Wrap Text" is switched ON.
The only way to wrap text is to turn on Wrap Text for reports and columns.
Other column formatting settings take precedence over the same settings for report formatting.
However, Wrap Text seems to take precedence over Report Format.
Is this a specification?