NO entity fields are available for use in a Formula within a Rule on the built-in User DB.
E.g., try to create a Rule for the User DB that uses a Formula to update the value of a custom (user-added) field. It can’t be done.
You can turn the User Name into a Formula field, which works as expected (and that Formula can access the the User fields).
But you can’t do the Rule-based equivalent of this - using a Rule to update the User Name with a Formula.