Sorry, I did not fully get it.
I created a snippet in Code snippet with the above code.
Then I go to a) Elements > the block-element I created –> insert short code? or b) I go to the Query Loop block and insert the short code there?
How does this function get the custom field content from the post?
I tried that and it hides the text in the editor, but not in the cpt archive page.
I did a workaround and used a button w/ icon and used Hide text. Same issue, so I used css to hide the button link text.