How to dynamically set a certain number of decimals on a UI-only formula field?

Note: this feature is coming for V2 only, so if you’re working in a V1 page you wouldn’t have access. However, if custom JS field renderers was one of the obstacles for moving to V2, those are also coming in this next release.

Could you give a little more info on the use case? I’d like to understand more about a scenario where you would dynamically determine the number of decimal points.