Be able to configure Trace Dump Formatting options

[obasekiosa]

Is your feature request related to a problem? Please describe.
Trace file dumps are sometimes not formatted/indented for easy viewing.

Describe the solution you'd like
Add option to specify if traces/error dumps should be formatted.
Maybe make it an option that can be changed while client is running without restarting.

Describe alternatives you've considered
Just always format them, but then that could cause dumps to be always much larger in size, with no option to change.