HTML tags allow you to format the notes and label fields. E.g., bold, bullets, different colors, etc. If you are not familiar with HTML, you can use online editors like this.
As a super admin, ensure that this setting is enabled.
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Go to the Forms tab.
Click on the “+Create“ button.
Create a form and add 'Note' control with HTML tag and text e.g.<p>This is an<u> example </u> of <strong>adding HTML</strong> tags in a <span style="color: red;">Form</span></p>
Click on the preview of the form. The added note will appear in your form.
Once you attach it to a CP, it gets reflected in the form as follows: