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You can do multiline formulas in the advanced formula environment, but still follows the same syntax as the formula language (with comments). i.e.:

=LET(

    x,1, // assign 1 to y

    y,2, // assign 2 to y

    x+y  // add x and y
)

Same with LAMBDAs

You can use Alt+Enter to create multiline formulas in normal formula entry. In addition, the formula bar can be dragged down (or press Ctrl+Shift+U) to be multiline [0]. One drawback is that you can’t use the Tab key for indentation and have to use spaces.

[0] https://www.ablebits.com/office-addins-blog/formula-bar-exce...

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