I think I’m experiencing the same issue.
When using
<div class="video-embed-container">
<?php the_field('featured_video'); ?>
</div>
In a template only the the div gets output, but when editing the post in the admin area, the preview appears as per normal.
Is there an alternative way to embed videos (other than manually pasting the supplied IFRAME)?
Edit: If I paste the youtube link into the regular content editor it works normally. The preview appears in the editor and also normally when viewed on the website.