Winforms high DPI not scaling font sizes

Question

In my .NET 4.7 Windows Forms application, I configured high DPI support by following the instructions here.

I configure my Windows like this:

this.AutoScaleDimensions = new System.Drawing.SizeF(6F, 13F);
this.AutoScaleMode = System.Windows.Forms.AutoScaleMode.Font; // I also tried with AutoScaleMode.Dpi

I layout my form with TableLayoutPanel and leave the default font settings on the form and all containers. Only my controls (Label, Button) have custom fonts set.

When I change the scale factor of the display, the form, layout and controls are all scaled accordingly. However font sizes are not scaled; the size of the text remains the same.

What is needed to make WinForms autoscale fonts alongside everything else?

100% scaling:

150% scaling - control is resized but font size remains constant:

For reference, here is my app manifest:

<?xml version="1.0" encoding="utf-8"?>
<assembly manifestVersion="1.0" xmlns="urn:schemas-microsoft-com:asm.v1">
  <assemblyIdentity version="1.0.0.0" name="MyApplication.app"/>
  <trustInfo xmlns="urn:schemas-microsoft-com:asm.v2">
    <security>
      <requestedPrivileges xmlns="urn:schemas-microsoft-com:asm.v3">
        <requestedExecutionLevel level="asInvoker" uiAccess="false" />
      </requestedPrivileges>
    </security>
  </trustInfo>
  <compatibility xmlns="urn:schemas-microsoft-com:compatibility.v1">
    <application>
      <!-- Windows 10 -->
      <supportedOS Id="{8e0f7a12-bfb3-4fe8-b9a5-48fd50a15a9a}" />
    </application>
  </compatibility>
</assembly>

and my app.config:

<?xml version="1.0" encoding="utf-8"?>
<configuration>
  <System.Windows.Forms.ApplicationConfigurationSection>
    <add key="DpiAwareness" value="PerMonitorV2" />
  </System.Windows.Forms.ApplicationConfigurationSection>
  <startup>
    <supportedRuntime version="v4.0" sku=".NETFramework,Version=v4.7.2" />
  </startup>
  <runtime>
    <assemblyBinding xmlns="urn:schemas-microsoft-com:asm.v1">
      <dependentAssembly>
        <assemblyIdentity name="System.Runtime.CompilerServices.Unsafe" publicKeyToken="b03f5f7f11d50a3a" culture="neutral" />
        <bindingRedirect oldVersion="0.0.0.0-4.0.6.0" newVersion="4.0.6.0" />
      </dependentAssembly>
      <dependentAssembly>
        <assemblyIdentity name="Microsoft.Extensions.Primitives" publicKeyToken="adb9793829ddae60" culture="neutral" />
        <bindingRedirect oldVersion="0.0.0.0-3.1.9.0" newVersion="3.1.9.0" />
      </dependentAssembly>
      <dependentAssembly>
        <assemblyIdentity name="Microsoft.Extensions.Configuration.Abstractions" publicKeyToken="adb9793829ddae60" culture="neutral" />
        <bindingRedirect oldVersion="0.0.0.0-3.1.9.0" newVersion="3.1.9.0" />
      </dependentAssembly>
      <dependentAssembly>
        <assemblyIdentity name="Microsoft.Extensions.Configuration" publicKeyToken="adb9793829ddae60" culture="neutral" />
        <bindingRedirect oldVersion="0.0.0.0-3.1.9.0" newVersion="3.1.9.0" />
      </dependentAssembly>
      <dependentAssembly>
        <assemblyIdentity name="Newtonsoft.Json" publicKeyToken="30ad4fe6b2a6aeed" culture="neutral" />
        <bindingRedirect oldVersion="0.0.0.0-12.0.0.0" newVersion="12.0.0.0" />
      </dependentAssembly>
    </assemblyBinding>
  </runtime>
</configuration>