How to make auto-resizing rectangle/shape fit to your text?

I'm sure you can do it with an action or a script...

If you wanna do it with an action, you can take a closer look to this one...

https://dennystips.com/text-highlighter-photoshop-actions/

With a script, you can do a better alignment...

Hi there,

I'd suggest that you just use the Type Tool and click anywhere in your Photoshop document. Type your text, paragraph etc. Once you're done, simply hit enter. Now (make sure your text layer is selected in the layers menu) then hit CTRL-T for transform (or select it from the menu: Edit/Transform/Scale) and click and hold any corner of the bounding box, hold the SHIFT ket to preserve the proportions of your text unless you want to stretch it voluntarily, and just adjust it the size you want.

You may refer this article for more info: https://helpx.adobe.com/in/photoshop/using/transforming-objects.html

Thanks,

Akash