Dear DebBoyce,
Good day! Thank you for posting to Microsoft Community. We are happy to assist you.
Based on your description, you want to keep the formatting when pasting into a new signature in New Outlook for Windows.
I was wondering when you paste the content in the signature, did the format changed into plain text? If it's the issue, after you paste the content into signature, please right click the content, and selcet Paste rather than Paste as plain text.

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This should keep the formatting of the signature when pasting it into the new signature block. If this does not work, it might be the new Outlook product issue/bug.
So sorry to bring you inconvenience. I know sometimes it is really inconvenient for us to use Outlook without this feature. I can understand your mood. Thanks for bring this to Microsoft Community. Since I think your idea is really constructive. I will report this to Microsoft. Meanwhile, I sincerely suggest you post this precious suggestion to Microsoft. Microsoft will update their product based on customers' suggestions. Believe your suggestion will help many other people in the future. Your understanding and co-operation are highly appreciated.
Here is our official URL to submit your suggestion:Outlook · Community (microsoft.com).
After submitting the feedback, will you please share me the feedback link, I will ask my team to help vote for it. Through this, our support engineers will be able to collate data and supporting details regarding this and might consider adding the feature as a good ground for future updates.
Thanks for your precious time and your understanding would be highly appreciated. Have a nice day!
Sincerely,
Sherry | Microsoft Community Moderator