Should you run into the situation where you need to reset the module config to the installation state (for what ever reasons), then this snippet might help you:
\Drupal::service('config.installer')->installDefaultConfig('module', $module);
For example in an update hook:
/**
* Implements hook_update_N().
*/
function HOOK_update_10001(&$sandbox) {
$module = basename(__FILE__, '.install');
\Drupal::service('config.installer')->installDefaultConfig('module', $module);
return t('Module @module config was reset to installation defaults. You may want to check the settings page.', ['@module', $module]);
}