If that is the requirement, then, yes, setting global FormatSettings variable will have that effect. You also need to change Application.UpdateFormatSettings to false, before you change global FormatSettings to avoid user changes to be applied if the application is already running.
You also need to keep in mind that any code that does not use global FormatSettings will not be affected by changes in global variable. For instance Delphi JSON serialization uses fixed settings for serialization that are based on JSON format requirements. Any code that uses own settings will behave in similar way.
I would still suggest that for serialization purpose and data persistence, you use separate FormatSettings variable as if (and when) specification changes and users are allowed to have their preferer format used for viewing purposes, it will be very hard to make separation afterwards and find all the places that need to use specific fixed format.