Formatting will never make a bad script good, but bad formatting reliably makes a good script look unfinished. A reader assesses your competence in the first fifteen seconds, from the shape of the page, and everything after that is read through the impression they already formed.
The list of things that matter is short and non-negotiable: a clean title page with your name and one contact, consistent sluglines, character names introduced once in caps with an age and a defining detail, no camera direction unless the story truly needs it, no bold or coloured text, and standard margins from real screenwriting software.
The list of things that do not matter is longer than writers fear: which software you used, whether you use CONTINUOUS or DAY, occasional 'we see' if it is rare and purposeful, and page count within a sane range for the genre.
Run formatting as its own pass, never mixed with rewriting. Fixing craft and cosmetics at the same time means you do neither properly, and you will miss the inconsistency that appears once on page 74.