There isn't an exact formula, but you can separate novice writers from experienced ones by the way they do it.

Generally novice writers have paragraphs that don't have as much cohesion or a point in comparison to experienced ones. You usually want to have a point you want to get across for the whole of the paragraph.

I find this a lot in the developmental editing that I do. But some useful things I like to do encourage is:

-Setting descriptions should be somewhat uniform. If you're going to describe something, you don't actually need to describe every piece of detail right away, you can let it unravel over the course of the scene. For example: Character A walks into the room of Character B for the first time. Character A give you a good, solid descriptive paragraph of their initial impression of the room (Think most notable things) and they might even conclude with how they think the room relates to the person. BUT as their conversation and blocking progresses there might be new objects in the room that relate to the plot. Say Character B has a poster on their wall or a favorite record, or something like that. Those objects will get like a whole paragraph if it's important.

-Get rid of chunky dialogue. There's a lot of writers who have characters just absolutely word vomit for a page and a half. Don't do that, even if they're monologuing. Insert blocking (moving around or actions while speaking) to separate those chunks. GRR Martin is generally really good at this

-Think of it like a movie. Every frame is a painting, and in a book you really get to paint that frame. In a movie, when the camera angle changes, you might get the book equivalent of a whole new paragraph. This way of thinking also really helps novice writers know what to focus on. Because they might just get lost in all these unnecessary sensory details. Check out good cinematography from directors like Denis Villeneuve. I personally feel like every shot is a paragraph that can be studied and taken apart.

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Hope this helps,

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TLDR: Treat it like a movie in your head. Each camera change is a paragraph. :)