I don’t think it’s possible to do all that in one step…
A couple things:
You’d need to use get_field() instead of the_field(), and echo the do_shortcode() function. Then you’ll have to combine them both with the HTML:
<?php
$first_name = get_field(‘first_name’);
$last_name = get_field(‘last_name’);
$shortcode = '<p>' . do_shortcode($first_name) . do_shortcode($last_name) . '</p>';
echo $shortcode;
?>
