I’m still a little confused. Are you trying to show the label of the ACF field or the label for the selected term?
If you want to get information about the ACF field then use
$field = get_field_object($field_key); // use the field key, not the field name
echo $field['label'];
if you are trying to display the term name then set the field to return object and use
$term = get_field('field_name');
echo $term->name;