For me it works even in simple Notepad in Windows 7 but there is certainly software where it is not standard behavior (for example Matlab).
To keep Obsidian documentation concise, it cannot document all common behavior of text editors. But this one is quite relevant to organizing knowledge - one of activities in Obsidian; and there are obviously many less experienced computer users who would benefit from learning this “trick”. ( I also discovered this behavior only two decades after my first encounter with computers.)
As @looper illustrates, the credit for knowledge goes to One who spreads it in appropriate places. So why not the One be Obsidian via it’s documentation.
If the documentation is well structured, then this short mention will not intrude/overwhelm other users who are not interested to read it. I guess it could be mentioned in some page about editing / refactoring of notes which could be interlinked with:
It would show up in results for search words like {copy, line, paragraph, select}.
Possible formulation:
# Reorganizing chapters, blocks, paragraphs, lines
...
### Moving current line/paragraph:
... (add info about dragging)
To copy/cut current paragraph, place the text-cursor in the paragraph and press Ctrl+C or Ctrl+X while no text is selected.