Limit Block format tags in WordPress wp_editor

You need to add formatselect in one of the toolbars, and WordPress by default have it in toolbar1:

wp_editor( $content, 'fm_display_callback', array(
    ...
    'tinymce' => array(
        'toolbar1' => 'formatselect,bold,italic,...',
        ...
    ),
) );

Check this and https://www.tiny.cloud/docs-4x/configure/content-formatting/#block_formats.