Powershell opening with ridiculously tiny font (about 5) and won't change to new default settings

Try changing the font from 'Properties > Font'.

You are probably opening PowerShell from a shortcut. Console shortcuts can have their properties set separately from the defaults. You can also right-click a shortcut, click properties, and change the font from there.

If you use the default shortcut at C:\ProgramData\Microsoft\Windows\Start Menu\Programs\System Tools you will have some permission problems.

Right click your shortcut. Run as an Administrator go to properties, change Font size and layout but CHOOSE Raster Fonts. (Console will not work).

Close program and open as usual. Saving properties with Console Font just reverts to open the powershell at desired Font size and inmediatelly changes to tiny fonts again.

If you create your own shortcut anywhere else, everything will work just fine.