I had the same problem, but I was using Prettier. Thus it doesn't support python properly or vscode doesn't recognize it as python formatter. I installed autopep8 for python in extentions bar. Then I configured the settings.json for user and workspace settings.json:

user settings:

"[python]": {
    "editor.formatOnType": true,
    "editor.defaultFormatter": "ms-python.autopep8"
    
},

workspace-settings:

"folders": [
    {
        "path": "."
    }
],
"settings": {
    "git.ignoreLimitWarning": true,
    "python.defaultInterpreterPath": "path_to_your_project",
    "[python]": {
        "editor.defaultFormatter": "ms-python.autopep8"
    }
},

And it worked!