Clicking on a block container will reveal a toolbar at the top of the block and also adds a few additional settings in the sidebar to the right of the editor as well.
The top toolbar usually includes several formatting options as well as the option to change or transform the block type. ( in the screenshot below)
In the editor’s sidebar you can switch between settings for the current block ( in the screenshot below) and settings for the whole document. ( in the screenshot below)
The Document setting panel is where you can add tags and categories, choose a featured image, see and change the status of your post, and more — these are options that apply to the page or post as a whole.
Also, clicking on the cog icon at the top right of the editor to toggle the visibility of the settings panel. ( in the screenshot above)