let readjustment = 1.0
print(String(format: "Readjustment: %.2f", readjustment))
It should and if it doesn't something is wrong in your other code (e.g. there's some rogue extension that messes things up).
If the simple version compiles - you may start with the original version that doesn't compile and step by step reduce it to the simplified version, checking after each step if the problem is still there β once the problem disappears you'd found the culprit.
Also consider this another newer string formatting mechanism in Foundation:
import Foundation
let readjustment = 1234.56789
let a = readjustment.formatted(.number.precision(.fractionLength(2)))
print(a) // 1,234.57
let locale = Locale(identifier: "ff_Adlm_GN")
let b = readjustment.formatted(.number.precision(.fractionLength(2)).locale(locale))
print(b) // π₯βΉπ₯π₯π₯.π₯π₯