There’s another filter for the post_object: acf/fields/post_object/result
, that lets you customise the result (text) displayed for each option in the post object field.
Try something like this:
function my_post_object_result( $title, $post, $field, $post_id ) {
/* Get whatever value you want here e.g. */
$short_title= get_field('short_title', $post->ID);
/* do any other processing you might want to do before returning it... */
return $short_title;
}
add_filter('acf/fields/post_object/result/name=product', 'my_post_object_result', 10, 4);
Reference: ACF Documentation for acf/fields/post_object/result