I'm not an authority, but I wondered the same thing while typing a particularly long string of text in to a text generator in Resolve 14 (so it does this even on new text, not just copy and pasted text).
I found your post, and others around the web, a few from this year and there doesn't appear to be anyone saying Resolve can do it, only asking how to do it, or requesting that Blackmagic include it so I think we can assume that Resolve doesn't do this as yet. It's pretty damned annoying, Titling seems to be something that a lot of platforms struggle to get right and weird things you wouldn't expect to have to deal with like this tend to crop up, I hope there's some movement in this space.
Perhaps you could contact Blackmagic with ideas if how to make wrapping work. Given that it must be proportional to a given frame width and how that varies with font size, it is important to have the ability to unwrap when font type and size are changed. And do you make it wrap to 4:3 title safe, 14:9 or 16:9 title safe?
I do not think the complexity is lost on all NLE manufacturers. Do any of them offer word wrap? Maybe it is not reliably easy or entirely practical to apply any auto wrap. I know that many clients format in word and export an rtf file which can apply formatting in some text generators like Boris Title tool. But I agree, title tools are too basic. How about a spell checker option?