No, it doesn't do anything like that - it just does word wrap. Comment Reflower:
https://marketplace.visualstudio.com/items?itemName=codebeas... (page says it works up to VS2015, but I've got it in VS2017 too - so presumably it's forwards-compatible?)
One of its features is that you can pop comments sections in a <pre>...</pre> block to stop Comment Reflower doing anything to them. Here's an example, where you can see that the preformatted section extends past the wrap column.
// Watford DDFS reads by initiating a multi-sector read,
// counting sectors read, then doing this when it's got
// the data it wants:
//
// <pre>
// 0D43: ldy #$60 A=00 X=FF Y=60 S=DC P=nvdIzC (D=60)
// 0D45: dey A=00 X=FF Y=5F S=DC P=nvdIzC (D=D0)
// 0D46: bne $0D45 A=00 X=FF Y=5F S=DC P=nvdIzC (D=01)
// 0D48: lda #$D0 A=D0 X=FF Y=00 S=DC P=NvdIzC (D=D0)
// 0D4A: sta $FE84 A=D0 X=FF Y=00 S=DC P=NvdIzC (D=D0)
// </pre>
//
// The loop at D43 is $5f*(2+3)+(2+2)=$1df=479 cycles, or
// 240 usec.
So if you had a text editor that implemented my idea, the first and last paragraph would be in proportional type, and the disassembly bit in the middle would be shown in monospaced to preserve the formatting.
(In the long run, ideally, I suppose, you'd want your code text editor to support a wide range of formatting options, so that you could have italics and bold and monospaced and all sorts. But if you just decided that initially a simple proportional/monospaced font switch would be useful, this is the sort of markup you could use to key the transition off.)