After some searching, like remove White Spaces/remove empty lines this feature isn’t implemented in the same way in Visual Studio.
As a workaround, you can use shortcut to achieve it.
1.Open Tools > Options->Environment tab > Keyboard
2.Search for DeleteBlank and select Edit.DeleteBlankLines
3.Add a new shortcut for example Ctrl+D,Ctrl+E
4.Assign > OK
5.Select all text and hit the shortcut
Besides, i suggest you can submit a feature request on Visual Studio Forum.
That will allow you to directly interact with the appropriate product group, and make it more convenient for the product group to collect and categorize your suggestions.