I'm trying to create a data dictionary for my dataset and willing to
read all the values for each format from the library into a dataset so
that I can export the same into Excel.
Any help is greatly appreciated.
If I understand your question, you're looking for the CNTLOUT= option on the Proc Format statement to create a data set with the format information. Specify the library and dataset name like any other.
I'd look at the contents closely before exporting as there is likely to be lot's of stuff you're not interested in.