How to set different form displays for creating and editing an entity? I see we can configure multiple form modes for an entity bundle.

We want to utilize that to create two form modes for Image bundle of Media entity. One to use while creating a new Image media and other to use while editing existing one.

How can we achieve that?
Are there exist configuration ways to do it?
The media entity has already specific form handlers add and edit, so you can configure them right away.

Add both form modes to the media entity at /admin/structure/display-modes/form and enable them for the media type at /admin/structure/media/manage/image/form-display in CUSTOM DISPLAY SETTINGS.