Yes, you can block elements directly from the context menu. I use it all the time on Reddit.

There's also built in blocking under brave://settings/shields for Javascript and social features.

It doesn't have a specific feature to block fonts AFAIK but it does have fingerprint protection if that's your concern.

I would like to know this, too. It does not seem to be on the list of features unless they are referring to it via "cosmetic filtering". I often block particular elements on websites.

There is an Aggressive setting for Brave Shields, which you can set either per-site in the Shields menu from the URL bar, or globally in brave://settings/shields - that should take care of SERP ads and other first-party placements.