out=label Not Working

We’ve got an ACF SELECT with manual value/label choices (e.g., red : Red). This select is set (in ACF) to output the Value (vs. Lable or Array). We must have it this way for our code to work. Again, there is still a label defined in the Choices section of the ACF field.

For some reason, out=label is not working. Instead, it makes the output disappear completely from the webpage.
Any ideas??

Here is the part of the code that we’re referring to:

[-repeater product_table_columns]
<th>[field product_table_column out=label]</th>

Thanks,
MT