The Taxonomy field selects terms with the interface WordPress itself uses: a checkbox tree for hierarchical taxonomies such as categories, a token field for flat ones such as tags.

Configuration
Go to Modern Fields > Fields groups and add the Taxonomy field. Its settings are in the inspector:
| Effect | |
|---|---|
| Taxonomy | The taxonomy whose terms are offered. |
| Allow creating terms | Lets the user create a missing term straight from the field. |
Display the terms
The field stores the IDs of the selected terms. Read them with get_field():