The Label block plays a vital role in form fields by visually and programmatically linking text with its associated input, textarea, or select form control. By generating an accessible
<label> element for the field, it ensures proper association and enhances usability.
In order to take full advantage of the Block Editor in WordPress, the Label block supports Color settings to modify the text and background colors, and Dimension settings to adjust padding and margin size.
Official documentation for these settings controls are available on WordPress.org: