You can also add a format value filter to specific field types or all fields. The example on this page shows adding a filter for textarea fields to do shortcodes. https://www.advancedcustomfields.com/resources/acf-format_value/
Doing this on all fields would not make sense, for example a taxomomy or relationship field. Trying to do shortcodes on fields that return array or object values would destroy the array/object.
