Microsoft announced today that it will deprecate WordPad with a future Windows update as it's no longer under active development, though the company did not specify the precise timing of this change.
That kinda blows. I won't pretend I was making heavy use of it when I used to use Windows or anything, but definitely I'd bust it open on occasion when I wanted something with mild enough rich text formatting, but felt LibreOffice Writer felt overkill for whatever I was doing.
It does allow rich text formatting, it just isn't enabled by default. And anything it doesn't do by default once you enable those features, there is probably a plugin to add it.