> Text after a blank line that is indented by two or more spaces is reproduced verbatim. (This is intended for code.)

If you'd want monospace you should indent the snippet with two or more spaces:

  from typing import Protocol, TypeVar
  
  T_co = TypeVar("T_co", covariant=True)
  
  class Indexable(Protocol[T_co]):
    def __getitem__(self, i: int) -> T_co: ...
  
  def f(x: Indexable[str]) -> None:
    print(x[0])