How to use EditorConfig with Xcode?

With the release of Xcode 16 apple added support for EditorConfig:

Added support for EditorConfig. The editor now respects indentation settings given in .editorconfig files. Xcode supports the following settings: indent_style, tab_width, indent_size, end_of_line, insert_final_newline, max_line_length, and trim_trailing_whitespace. See https://editorconfig.org for more information. Settings from .editorconfig files normally take precedence over settings given in the “Text Editing” section of View > Inspectors > File for a file or group. This can be disabled by unchecking the “Prefer Settings from EditorConfig” checkbox on the Indentation tab of Xcode > Settings > Text Editing. (20796230)

In my project I create a new .editorconfig file under root directory:

# EditorConfig is awesome: https://EditorConfig.org

# top-most EditorConfig file
root = true

[*]
end_of_line = lf
charset = utf-8
trim_trailing_whitespace = false
insert_final_newline = false

[*.swift]
indent_style = space
indent_size = 4

[*.{h, m, mm}]
indent_style = space
indent_size = 4

[*.metal]
indent_style = space
indent_size = 4

However, when I try to re-indent, it's not working