I am having a document library with different folders. Each folder contains 100s of documents. I am creating a new column with name Status. When I change the status of the folder to "Locked" then Status column value for all the documents under this folder should be marked as "Locked" automatically. Is there any way that I can accomplish this thing? OOB there is no way to accomplish. Is it possible through workflow or content type?
I don't think that we can inherit metadata value from folder.But I would suggest to use document sets.
A Document Set is a group of related documents that you can manage as a single entity. You can create a Document Set in a single step, and then define its characteristics and metadata.
There is a way to inherit the metadata, I hired a consultant to develop this functionality for us, so I can confirm its possible. Unfortunately I cannot provide a step by step guide for your use case as our needs were different.
I believe the consultant used the SharePoint Online Management Shell which is far beyond my expertise, so unfortunately I can't do more than tempt you.