This is a core block and thus available by default in Gutenberg WordPress editor. No download required.
The WordPress paragraph block in Gutenberg allows you to start writing your content simply. This is the most frequently used WordPress block. Paragraph block is the only default Gutenberg block available when you create a new page or post. Pressing enter after writing your paragraph will automatically add a new paragraph block.
Paragraph Block Features
Paragraph block has basic text formatting and alignment options in the block toolbar. It also has some advanced options in the sidebar settings panel, such as drop-cap, color, background color, font-size and more.
Front-end view for the paragraph block.
Paragraph block default view in Gutenberg editor and Formatting options for Paragraph block
Large font-size option from the block sidebar settings for the paragraph block
Drop-cap option and background color settings for the paragraph block.