Is your feature request related to a problem? Please describe.
There are valid cases where longer labels are required to be displayed in their entirety.
Some of these cases are:

• You can quickly understand from the structure of the label if the value refers to some sort of subcategory or not, for example when showing hierarchical path names like root.package.app.service.version
• The right-hand side of the label is more important than the left-hand side

Describe the solution you'd like
The ideal path is to be always able to visualize the entire label on the tooltip but, as always, it depends on the length of it.
We can't represent a label that is as long as the current screen width (it will occlude too much in the current view), but is also true that we cannot limit too much the width and always truncate the label.
A trade-off should be considered.
We should also consider its effects on the legend (longer label on legend will shrink the chart)

Describe alternatives you've considered
The multi-line wrapping was already considered in the design but could increase the height of the tooltip too much depending on the number of lines to wrap every single text. The design idea was to wrap the text at a max 300px width.

The beginning/middle truncation of text is an alternative option, but doesn't fully cover the extent of the problem and is a custom solution (we need to compute that manually because this type of text truncation is not available in HTML out of the box)

Additional context
This and other similar situations are examples of the need for a full extent tooltip width or a tooltip with a different truncation.

cc @gvnmagni