For some reason, the shortcode element doesn't include the dynamic data option, so a shortcode can't be inserted directly via a custom field.
With one extra step, we can still make it work.
For example, here is a custom field used to insert a shortcode:

In a new Text element, click the icon to add dynamic data, then right-click the custom field.
This copies Breakdance’s generated shortcode for that dynamic data.

Add a Shortcode element and paste the shortcode.
Delete the previous Text element, as it's no longer needed.

Now, the shortcode will work as expected — only on the front end.