You can achieve this by downloading the Format Files extension.

Once you install the extension, run the Start Format Files: From Glob command and use ** as the glob pattern. It will automatically format everything to comply with the .editorconfig file.

For example, I'm working on an Angular project and I wanted to change the indent size to 4 instead of 2 on the TypeScript files. So, after editing the .editorconfig file, I ran this command and used **.ts as the glob pattern. Worked like a charm!