Programmatically set paragraph field config value

Set the paragraph field configuration value programmatically based on configuration settings.

/**
* AttachField function implementation.
*/
public static function attachField($bundle, $flag) {
  // Field field_gc_coordinates is already created at module install.
  // Now attach this field to the bundle as per the configuration settings.
  $field = FieldConfig::loadByName('node', $bundle, 'field_gc_coordinates');
  // Default field setting form for paragraph.
  $field_settings = [
    'type' => 'entity_reference_paragraphs',
    'weight' => '4',
    'settings' => [
      'title' => 'Paragraph',
      'title_plural' => 'Paragraphs',
      'edit_mode' => 'open',
      'add_mode' => 'dropdown',
      'form_display_mode' => 'default',
      'default_paragraph_type' => '',
      'region' => 'content',
    ],
  ];
  // Attach field if there is not already.
  if (empty($field) && $flag === $bundle) {

    $field = FieldConfig::create([
      'field_name' => 'field_gc_coordinates',
      'entity_type' => 'node',
      'bundle' => $bundle,
      'label' => 'Geographic Coordinates',
      'settings' => [
        'handler' => 'default:paragraph',
        'handler_settings' => [
          'negate' => 0,
          'target_bundles' => [
            'geographic_coordinates' => 'geographic_coordinates',
          ],
          'target_bundles_drag_drop' => [
            'geographic_coordinates' => [
              'enabled' => TRUE,
              'weight' => 2,
            ],
          ],
        ],
        'field_type' => 'entity_reference_revisions',
      ],
    ])->save();

    // Set component in form display section.
    entity_get_form_display('node', $bundle, 'default')
      ->setComponent('field_gc_coordinates', $field_settings)
      ->save();

    // Set component in display section.
    entity_get_display('node', $bundle, 'default')
      ->setComponent('field_gc_coordinates')
      ->save();
  }
  // Detach field if already there.
  elseif (!empty($field) && !$flag) {
    $field->delete();
  }
}