Example using config_update to help automate hook_update_N for new config in config/install, or non-overridden config already active.

hook_update_N_helper.php

<?php

function example_helper_to_import_config_in_hook_update_N() {
  /** @var \Drupal\config_update\ConfigReverter $updater */
  $updater = \Drupal::service('config_update.config_update');

  try {
    $updater->import('commerce_product_type', 'dvds');
  }
  catch (\Drupal\Core\Entity\EntityStorageException $e) {
    // What to do if already exists.
  }

  // We compared old known hash to active hash. We will always have a diff
  // from the config_update.config_diff service.
  $old_hash = 's-_5XolJXcCRi-R-_0Jgg-XrC85VXZWoOi0fBKRHLD4';

  // Returns raw input, not EntityInterface::toArray because it's reading
  // straight from storage.
  $active = $updater->getFromActive('commerce_product_type', 't_shirt');
  unset($active['uuid']);
  unset($active['_core']);

  // Get hash
  $active_hash = \Drupal\Component\Utility\Crypt::hashBase64(serialize($active));

  if ($active_hash === $old_hash) {
    $updater->revert('commerce_product_type', 't_shirt');
  }
}