The Min Width by Chars function is created as Power Apps named Formula for getting minimum width of a text control.
Formula Code
MinWidthByChars(InputText:Text,CharSize:Number):Number=Len(InputText)*CharSize;
Eye on Detail
Power Apps has function to calculate a length of your input text called "Len". This function could be used for calculating number of characters. Then this custom formula gets this length of chars and multiply it by your font size.
Demo
You can put static font size or combine it with the previous UDF function Output