I understand why we need multiple approvals for suggested edits to take effect. However, there is an important sub-category of edits, where the changes are limited to altering the presentation of the content without touching its substance. For example, editing whitespace or adding markdown does not usually* alter the meaning of the question or the answer, only its presentation.
I think that it is safe to show these edits right away, before they get approved by two reviewers. This would make the question legible right away, but keep the rest of the approval process in place to ensure the quality of the approved edits does not go down.
* I say "usually" because there are programming languages where the indentation is considered part of a program semantic.