There isn't a way within the notes field to do this. What our teams do for making project notes for things such as status or updates is use the description field within the project. That field can be pulled into a report and is editable so they can edit/update as things happen. You basically make a project status report with that field on it where they review project status and make notes in that field as to where things are at. Not sure if that fits your usecase but maybe its an option
