It wouldn’t work in that specific way. I believe that since —by choice— the column’s format is ‘pop-up list’ and not ‘rich text’, the standard methods for manipulating text formats don’t apply.
However, there are ‘style’ attributes which control other formatting aspects so you could try something like this:
set style's attribute "font-size"'s value of column 3 to 14
You can query them this way but it’s sort of like stumbling around in a blizzard:
attributes of style of column 3
If you’re bored but curious, you might want to read this thread. You should read the whole thing but this particular post is where the insights on style attributes begin: