Per my research, there is no such function to update a column's properties. You can refer to the functions available in pnp/js. As a workaround, I wil recommend you to use powershell to reach your requirement. Please refer to the following script
#Load SharePoint CSOM Assemblies
Add-Type -Path "C:\Program Files\Common Files\Microsoft Shared\Web Server Extensions\16\ISAPI\Microsoft.SharePoint.Client.dll"
Add-Type -Path "C:\Program Files\Common Files\Microsoft Shared\Web Server Extensions\16\ISAPI\Microsoft.SharePoint.Client.Runtime.dll"
#Function to Set Multiple Lines of Text Rich Text Field Type to "Enhanced Rich Text"
Function Set-SPOMultilineRichTextToEnhanced([String]$SiteURL, [String]$ListName, [String]$FieldInternalName)
{
Try {
#Get credentials to connect
$Cred= Get-Credential
$Credentials = New-Object Microsoft.SharePoint.Client.SharePointOnlineCredentials($Cred.Username, $Cred.Password)
#Setup the context
$Ctx = New-Object Microsoft.SharePoint.Client.ClientContext($SiteURL)
$Ctx.Credentials = $Credentials
#Get the list & Fields
$List = $Ctx.Web.lists.GetByTitle($ListName)
$Ctx.Load($List)
$ListFields = $List.Fields
$Ctx.Load($ListFields)
$Ctx.ExecuteQuery()
#Get the Field to Update
$FieldToUpdate = $ListFields | Where {$_.InternalName -eq $FieldInternalName}
If($FieldToUpdate -ne $NULL)
{
If($FieldToUpdate.RichText -eq $True)
{
#Enable Enhanced Rich Text
$FieldToUpdate.SchemaXml = $FieldToUpdate.SchemaXml.Replace("RichTextMode=`"Compatible`"","RichTextMode=`"FullHtml`"")
$FieldToUpdate.Update()
$Ctx.ExecuteQuery()
write-host -f Green "Field '$($FieldToUpdate.Title)' Updated in List '$($List.Title)' Successfully!" $_.Exception.Message
}
else
{
write-host -f Yellow "Field '$($FieldToUpdate.Title)' Should be a Rich Text Field in order to Make it Enhanced Rich Text!" $_.Exception.Message
}
}
else
{
write-host -f Yellow "Field '$($FieldToUpdate.Title)' doesn't exist in the List!" $_.Exception.Message
}
}
Catch {
write-host -f Red "Error Updating Field Settings!" $_.Exception.Message
}
}
#Config Parameters
$SiteURL="https://Crescent.sharepoint.com"
$ListName="Projects V1"
$FieldInternalName="Project_x0020_Description"
#Call the function
Set-SPOMultilineRichTextToEnhanced -SiteURL $SiteURL -ListName $ListName -FieldInternalName $FieldInternalName
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