Linked and Track Styles

Select the text layer or caption in your timeline and navigate to the Edit tab of the Essential Graphics panel.

Stylize the text layer or caption using Text and Appearance controls.

Select the plus icon at the upper-right corner of the Linked style or Track style menu and select Create style.

Name your style and save it to your desired location. You can select Save to Project to link the text layer or caption to the style, and it will show up in the dropdown. It will also create a project item in the Project panel. If you select Local Folders, it will save the style to a local folder, which can be reused in future projects through the style browser.

The new style appears with thumbnails in the Linked style or Track style dropdown list. You can then apply that style to other text layers and caption tracks in your project.

Select the text layer or caption you wish to edit.

Select the style you wish to apply from the dropdown list. 

The text layer or caption track will now be linked to the style.

Select one text layer or a caption block from the captions track you wish to edit.

Make your desired changes and select the Redefine Style button next to the Linked style or Track style dropdown to overwrite the style with the new changes.

All text layers or captions that use that style will change to your new style in one go.

For captions, a Redefine Style dialog will ask you whether you wish to save your changes to all captions in the track (which does not change the style) or if you wish to overwrite the style with your changes.