Fit frame to content but in Photoshop

I feel as if someone out there must have asked for this already but a search didn't find it, so I'm asking. Sorry if it's been done before.

In Indesign, you can select "Fit frame to Content" and the text box will shrink to the size of the text. Has anyone written a script to do that in Photoshop?

(Please don't say something like, "Photoshop is for images, use Indesign for text and layout. Yes, I get that, but that's not the question I was asking.)

Thanks!