Adding custom CSS classes to visual editor?

I generally make child themes to add custom CSS to themes I want to modify. This works great, but I’m looking to expand it a little for users. I want to make it more user-friendly/easier for other people to update pages and posts once the theme is done. I was wondering if there is a way to add custom classes or IDs I define to the post/page formatting panel?

(this is the panel I mean – https://vidrinmr.capeville.wfunet.wfu.edu/wptraining/wp-content/uploads/textformat.png )