There isn't a documented way to do this yet in Azure Maps, however, there is a way to achieve this by accessing the underlying MapLibre API that the Azure Maps SDK is built on top of.
First off you will need the ID of your layer. You can simply do something like var myLayerId = myLayer.getId()
From there you can set the text-max-width
layout option of the layer like this:
map._getMap().setLayoutProperty(myLayerId, 'text-max-width', 15);
The default setting for this is 10, I tried 15 with my test string and that worked well. Experiment and find what works best for you.